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: | July 31 |
Date of reporting period: | January 31, 2024 |
Item 1.
Reports to Stockholders
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 8.7 | |
Apple, Inc. | 7.9 | |
Broadcom, Inc. | 3.0 | |
Visa, Inc. Class A | 2.2 | |
UnitedHealth Group, Inc. | 2.2 | |
JPMorgan Chase & Co. | 2.2 | |
Merck & Co., Inc. | 1.8 | |
Intel Corp. | 1.8 | |
Johnson & Johnson | 1.8 | |
AbbVie, Inc. | 1.7 | |
33.3 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 29.2 | |
Financials | 14.8 | |
Health Care | 13.2 | |
Industrials | 8.9 | |
Consumer Discretionary | 8.8 | |
Consumer Staples | 6.4 | |
Communication Services | 6.4 | |
Energy | 4.1 | |
Materials | 2.6 | |
Real Estate | 2.6 | |
Utilities | 2.4 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.6% |
Common Stocks - 99.4% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 6.4% | |||
Diversified Telecommunication Services - 1.4% | |||
AT&T, Inc. | 186,529 | 3,299,698 | |
Verizon Communications, Inc. | 100,013 | 4,235,551 | |
7,535,249 | |||
Entertainment - 0.9% | |||
Electronic Arts, Inc. | 19,956 | 2,745,546 | |
Warner Music Group Corp. Class A | 52,887 | 1,929,847 | |
4,675,393 | |||
Media - 4.1% | |||
Cable One, Inc. (a) | 2,328 | 1,277,909 | |
Comcast Corp. Class A | 102,289 | 4,760,530 | |
Fox Corp. Class A | 60,540 | 1,955,442 | |
Interpublic Group of Companies, Inc. | 54,597 | 1,801,155 | |
News Corp. Class A | 96,012 | 2,365,736 | |
Nexstar Media Group, Inc. Class A | 9,523 | 1,692,332 | |
Omnicom Group, Inc. | 23,563 | 2,129,624 | |
Paramount Global Class B | 82,785 | 1,207,833 | |
TEGNA, Inc. | 97,316 | 1,517,156 | |
The New York Times Co. Class A | 54,487 | 2,645,889 | |
21,353,606 | |||
TOTAL COMMUNICATION SERVICES | 33,564,248 | ||
CONSUMER DISCRETIONARY - 8.8% | |||
Automobiles - 0.7% | |||
Ford Motor Co. | 310,627 | 3,640,548 | |
Broadline Retail - 0.5% | |||
Kohl's Corp. | 110,699 | 2,851,606 | |
Hotels, Restaurants & Leisure - 2.2% | |||
McDonald's Corp. | 23,564 | 6,897,654 | |
Starbucks Corp. | 48,857 | 4,545,167 | |
11,442,821 | |||
Household Durables - 1.3% | |||
Newell Brands, Inc. | 230,732 | 1,919,690 | |
Vistry Group PLC | 382,060 | 4,889,670 | |
6,809,360 | |||
Specialty Retail - 3.2% | |||
Best Buy Co., Inc. | 43,277 | 3,137,150 | |
Lowe's Companies, Inc. | 24,779 | 5,273,962 | |
The Home Depot, Inc. | 24,124 | 8,514,807 | |
16,925,919 | |||
Textiles, Apparel & Luxury Goods - 0.9% | |||
NIKE, Inc. Class B | 45,037 | 4,572,607 | |
TOTAL CONSUMER DISCRETIONARY | 46,242,861 | ||
CONSUMER STAPLES - 6.4% | |||
Beverages - 2.2% | |||
PepsiCo, Inc. | 34,132 | 5,752,266 | |
The Coca-Cola Co. | 96,335 | 5,730,969 | |
11,483,235 | |||
Consumer Staples Distribution & Retail - 0.7% | |||
Target Corp. | 26,476 | 3,682,282 | |
Food Products - 0.5% | |||
Tyson Foods, Inc. Class A | 46,534 | 2,548,202 | |
Household Products - 1.5% | |||
Procter & Gamble Co. | 50,105 | 7,873,500 | |
Personal Care Products - 0.1% | |||
Kenvue, Inc. | 37,228 | 772,853 | |
Tobacco - 1.4% | |||
Altria Group, Inc. | 82,417 | 3,306,570 | |
Philip Morris International, Inc. | 46,886 | 4,259,593 | |
7,566,163 | |||
TOTAL CONSUMER STAPLES | 33,926,235 | ||
ENERGY - 4.1% | |||
Oil, Gas & Consumable Fuels - 4.1% | |||
Chevron Corp. | 30,963 | 4,564,875 | |
ConocoPhillips Co. | 28,294 | 3,165,250 | |
Coterra Energy, Inc. | 65,305 | 1,624,788 | |
Devon Energy Corp. | 30,793 | 1,293,922 | |
EOG Resources, Inc. | 18,496 | 2,104,660 | |
Exxon Mobil Corp. | 65,268 | 6,710,203 | |
Pioneer Natural Resources Co. | 9,261 | 2,128,456 | |
21,592,154 | |||
FINANCIALS - 14.8% | |||
Banks - 8.5% | |||
Bank of America Corp. | 194,970 | 6,630,930 | |
Citigroup, Inc. | 97,680 | 5,486,686 | |
ING Groep NV (Certificaten Van Aandelen) | 273,354 | 3,916,517 | |
Intesa Sanpaolo SpA | 1,414,526 | 4,399,082 | |
JPMorgan Chase & Co. | 65,092 | 11,349,441 | |
KBC Group NV | 50,301 | 3,304,595 | |
Truist Financial Corp. | 92,472 | 3,427,012 | |
Wells Fargo & Co. | 129,476 | 6,497,106 | |
45,011,369 | |||
Capital Markets - 1.1% | |||
Blackstone, Inc. | 47,014 | 5,850,892 | |
Financial Services - 3.1% | |||
The Western Union Co. | 359,479 | 4,518,651 | |
Visa, Inc. Class A | 43,281 | 11,826,966 | |
16,345,617 | |||
Insurance - 1.5% | |||
American Financial Group, Inc. | 29,088 | 3,502,195 | |
Old Republic International Corp. | 147,557 | 4,137,498 | |
7,639,693 | |||
Mortgage Real Estate Investment Trusts - 0.6% | |||
Annaly Capital Management, Inc. | 163,536 | 3,138,256 | |
TOTAL FINANCIALS | 77,985,827 | ||
HEALTH CARE - 13.2% | |||
Biotechnology - 3.3% | |||
AbbVie, Inc. | 56,395 | 9,271,338 | |
Amgen, Inc. | 26,630 | 8,368,744 | |
17,640,082 | |||
Health Care Equipment & Supplies - 1.2% | |||
Medtronic PLC | 72,730 | 6,366,784 | |
Health Care Providers & Services - 2.2% | |||
UnitedHealth Group, Inc. | 22,374 | 11,449,671 | |
Pharmaceuticals - 6.5% | |||
Bristol-Myers Squibb Co. | 94,306 | 4,608,734 | |
GSK PLC | 277,586 | 5,542,753 | |
Johnson & Johnson | 58,446 | 9,287,069 | |
Merck & Co., Inc. | 79,716 | 9,628,098 | |
Pfizer, Inc. | 182,102 | 4,931,322 | |
33,997,976 | |||
TOTAL HEALTH CARE | 69,454,513 | ||
INDUSTRIALS - 8.9% | |||
Aerospace & Defense - 0.9% | |||
RTX Corp. | 53,667 | 4,890,137 | |
Air Freight & Logistics - 0.7% | |||
United Parcel Service, Inc. Class B | 27,006 | 3,832,151 | |
Ground Transportation - 1.1% | |||
Union Pacific Corp. | 23,701 | 5,781,385 | |
Industrial Conglomerates - 2.1% | |||
3M Co. | 35,123 | 3,313,855 | |
Honeywell International, Inc. | 24,900 | 5,036,274 | |
Jardine Matheson Holdings Ltd. | 62,528 | 2,519,878 | |
10,870,007 | |||
Machinery - 1.2% | |||
Caterpillar, Inc. | 20,458 | 6,143,742 | |
Marine Transportation - 2.3% | |||
A.P. Moller - Maersk A/S Series B | 1,424 | 2,640,765 | |
Mitsui OSK Lines Ltd. | 132,700 | 4,820,503 | |
Nippon Yusen KK | 137,000 | 4,778,013 | |
12,239,281 | |||
Professional Services - 0.6% | |||
Randstad NV | 50,751 | 2,908,568 | |
TOTAL INDUSTRIALS | 46,665,271 | ||
INFORMATION TECHNOLOGY - 29.2% | |||
Communications Equipment - 1.5% | |||
Cisco Systems, Inc. | 156,346 | 7,845,442 | |
Electronic Equipment, Instruments & Components - 0.9% | |||
Corning, Inc. | 150,467 | 4,888,673 | |
IT Services - 1.7% | |||
IBM Corp. | 49,064 | 9,011,094 | |
Semiconductors & Semiconductor Equipment - 7.5% | |||
Broadcom, Inc. | 13,640 | 16,095,200 | |
Intel Corp. | 222,203 | 9,572,505 | |
Qualcomm, Inc. | 52,005 | 7,723,263 | |
Texas Instruments, Inc. | 39,316 | 6,295,278 | |
39,686,246 | |||
Software - 8.7% | |||
Microsoft Corp. | 115,219 | 45,808,767 | |
Technology Hardware, Storage & Peripherals - 8.9% | |||
Apple, Inc. | 226,277 | 41,725,479 | |
HP, Inc. | 177,191 | 5,087,154 | |
46,812,633 | |||
TOTAL INFORMATION TECHNOLOGY | 154,052,855 | ||
MATERIALS - 2.6% | |||
Chemicals - 1.7% | |||
Air Products & Chemicals, Inc. | 6,514 | 1,665,695 | |
Dow, Inc. | 27,093 | 1,452,185 | |
Linde PLC | 9,619 | 3,894,060 | |
LyondellBasell Industries NV Class A | 14,491 | 1,363,893 | |
The Mosaic Co. | 25,645 | 787,558 | |
9,163,391 | |||
Containers & Packaging - 0.7% | |||
Amcor PLC | 107,781 | 1,016,375 | |
International Paper Co. | 30,612 | 1,096,828 | |
Packaging Corp. of America | 8,643 | 1,433,701 | |
3,546,904 | |||
Metals & Mining - 0.2% | |||
Newmont Corp. | 30,836 | 1,064,150 | |
TOTAL MATERIALS | 13,774,445 | ||
REAL ESTATE - 2.6% | |||
Equity Real Estate Investment Trusts (REITs) - 2.6% | |||
American Tower Corp. | 10,399 | 2,034,564 | |
Crown Castle, Inc. | 12,139 | 1,314,047 | |
Healthcare Trust of America, Inc. | 50,532 | 814,071 | |
Medical Properties Trust, Inc. (a) | 85,346 | 264,573 | |
Omega Healthcare Investors, Inc. | 36,406 | 1,055,774 | |
Prologis, Inc. | 19,327 | 2,448,538 | |
Public Storage | 5,250 | 1,486,748 | |
Realty Income Corp. | 22,835 | 1,241,996 | |
Simon Property Group, Inc. | 11,810 | 1,636,984 | |
Weyerhaeuser Co. | 37,523 | 1,229,629 | |
13,526,924 | |||
UTILITIES - 2.4% | |||
Electric Utilities - 2.1% | |||
American Electric Power Co., Inc. | 17,769 | 1,388,470 | |
Duke Energy Corp. | 20,244 | 1,939,983 | |
Edison International | 20,256 | 1,366,875 | |
NextEra Energy, Inc. | 39,521 | 2,317,116 | |
NRG Energy, Inc. | 33,139 | 1,757,693 | |
Southern Co. | 29,379 | 2,042,428 | |
10,812,565 | |||
Independent Power and Renewable Electricity Producers - 0.1% | |||
Clearway Energy, Inc. Class C | 32,103 | 778,177 | |
Multi-Utilities - 0.2% | |||
Dominion Energy, Inc. | 27,734 | 1,267,998 | |
TOTAL UTILITIES | 12,858,740 | ||
TOTAL COMMON STOCKS (Cost $474,335,858) | 523,644,073 | ||
Money Market Funds - 0.7% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (b) | 2,214,833 | 2,215,276 | |
Fidelity Securities Lending Cash Central Fund 5.39% (b)(c) | 1,125,837 | 1,125,950 | |
TOTAL MONEY MARKET FUNDS (Cost $3,341,226) | 3,341,226 | ||
TOTAL INVESTMENT IN SECURITIES - 100.1% (Cost $477,677,084) | 526,985,299 |
NET OTHER ASSETS (LIABILITIES) - (0.1)% | (276,416) |
NET ASSETS - 100.0% | 526,708,883 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Micro E-mini S&P 500 Index Contracts (United States) | 12 | Mar 2024 | 2,922,300 | 94,933 | 94,933 |
The notional amount of futures purchased as a percentage of Net Assets is 0.6% |
(a) | Security or a portion of the security is on loan at period end. |
(b) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 2,062,133 | 12,486,648 | 12,333,505 | 39,884 | - | - | 2,215,276 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 6,087,575 | 30,410,662 | 35,372,287 | 9,499 | - | - | 1,125,950 | 0.0% |
Total | 8,149,708 | 42,897,310 | 47,705,792 | 49,383 | - | - | 3,341,226 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 33,564,248 | 33,564,248 | - | - |
Consumer Discretionary | 46,242,861 | 46,242,861 | - | - |
Consumer Staples | 33,926,235 | 33,926,235 | - | - |
Energy | 21,592,154 | 21,592,154 | - | - |
Financials | 77,985,827 | 77,985,827 | - | - |
Health Care | 69,454,513 | 69,454,513 | - | - |
Industrials | 46,665,271 | 46,665,271 | - | - |
Information Technology | 154,052,855 | 154,052,855 | - | - |
Materials | 13,774,445 | 13,774,445 | - | - |
Real Estate | 13,526,924 | 13,526,924 | - | - |
Utilities | 12,858,740 | 12,858,740 | - | - |
Money Market Funds | 3,341,226 | 3,341,226 | - | - |
Total Investments in Securities: | 526,985,299 | 526,985,299 | - | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 94,933 | 94,933 | - | - |
Total Assets | 94,933 | 94,933 | - | - |
Total Derivative Instruments: | 94,933 | 94,933 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 94,933 | 0 |
Total Equity Risk | 94,933 | 0 |
Total Value of Derivatives | 94,933 | 0 |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $1,082,555) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $474,335,858) | $ | 523,644,073 | ||
Fidelity Central Funds (cost $3,341,226) | 3,341,226 | |||
Total Investment in Securities (cost $477,677,084) | $ | 526,985,299 | ||
Segregated cash with brokers for derivative instruments | 156,800 | |||
Foreign currency held at value (cost $112,128) | 111,996 | |||
Dividends receivable | 687,244 | |||
Distributions receivable from Fidelity Central Funds | 7,562 | |||
Total assets | 527,948,901 | |||
Liabilities | ||||
Accrued management fee | $ | 65,768 | ||
Payable for daily variation margin on futures contracts | 48,300 | |||
Collateral on securities loaned | 1,125,950 | |||
Total Liabilities | 1,240,018 | |||
Net Assets | $ | 526,708,883 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 530,364,635 | ||
Total accumulated earnings (loss) | (3,655,752) | |||
Net Assets | $ | 526,708,883 | ||
Net Asset Value, offering price and redemption price per share ($526,708,883 ÷ 11,900,000 shares) | $ | 44.26 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 7,475,100 | ||
Income from Fidelity Central Funds (including $9,499 from security lending) | 49,383 | |||
Total Income | 7,524,483 | |||
Expenses | ||||
Management fee | $ | 564,837 | ||
Independent trustees' fees and expenses | 1,520 | |||
Total expenses before reductions | 566,357 | |||
Expense reductions | (89) | |||
Total expenses after reductions | 566,268 | |||
Net Investment income (loss) | 6,958,215 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (389,147) | |||
Redemptions in-kind | 7,444,803 | |||
Foreign currency transactions | 2,323 | |||
Futures contracts | 163,073 | |||
Total net realized gain (loss) | 7,221,052 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 5,336,564 | |||
Assets and liabilities in foreign currencies | (4,043) | |||
Futures contracts | (58,452) | |||
Total change in net unrealized appreciation (depreciation) | 5,274,069 | |||
Net gain (loss) | 12,495,121 | |||
Net increase (decrease) in net assets resulting from operations | $ | 19,453,336 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 6,958,215 | $ | 17,051,353 |
Net realized gain (loss) | 7,221,052 | 19,832,576 | ||
Change in net unrealized appreciation (depreciation) | 5,274,069 | 2,382,381 | ||
Net increase (decrease) in net assets resulting from operations | 19,453,336 | 39,266,310 | ||
Distributions to shareholders | (6,805,600) | (16,860,450) | ||
Share transactions | ||||
Proceeds from sales of shares | - | 115,557,120 | ||
Cost of shares redeemed | (35,474,554) | (200,570,072) | ||
Net increase (decrease) in net assets resulting from share transactions | (35,474,554) | (85,012,952) | ||
Total increase (decrease) in net assets | (22,826,818) | (62,607,092) | ||
Net Assets | ||||
Beginning of period | 549,535,701 | 612,142,793 | ||
End of period | $ | 526,708,883 | $ | 549,535,701 |
Other Information | ||||
Shares | ||||
Sold | - | 2,750,000 | ||
Redeemed | (850,000) | (4,900,000) | ||
Net increase (decrease) | (850,000) | (2,150,000) | ||
Fidelity® Dividend ETF for Rising Rates |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 43.10 | $ | 41.08 | $ | 42.62 | $ | 31.72 | $ | 32.31 | $ | 31.54 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .56 | 1.22 | 1.08 | .93 | 1.01 | 1.07 | ||||||
Net realized and unrealized gain (loss) | 1.15 | 2.02 | (1.54) | 10.85 | (.56) | .79 | ||||||
Total from investment operations | 1.71 | 3.24 | (.46) | 11.78 | .45 | 1.86 | ||||||
Distributions from net investment income | (.55) | (1.22) | (1.08) | (.88) | (1.04) | (1.09) | ||||||
Total distributions | (.55) | (1.22) | (1.08) | (.88) | (1.04) | (1.09) | ||||||
Net asset value, end of period | $ | 44.26 | $ | 43.10 | $ | 41.08 | $ | 42.62 | $ | 31.72 | $ | 32.31 |
Total Return C,D,E | 4.03% | 8.17% | (1.06)% | 37.57% | 1.86% | 6.09% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .22% H | .29% | .29% | .29% | .29% | .29% | ||||||
Expenses net of fee waivers, if any | .22% H | .29% | .29% | .29% | .29% | .29% | ||||||
Expenses net of all reductions | .22% H | .29% | .29% | .29% | .29% | .29% | ||||||
Net investment income (loss) | 2.70% H | 3.04% | 2.54% | 2.44% | 3.15% | 3.42% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 526,709 | $ | 549,536 | $ | 612,143 | $ | 490,089 | $ | 282,317 | $ | 360,229 |
Portfolio turnover rate I,J | 2% H | 29% | 28% | 32% | 35% | 35% |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 6.4 | |
Apple, Inc. | 5.8 | |
NVIDIA Corp. | 4.6 | |
JPMorgan Chase & Co. | 2.8 | |
Procter & Gamble Co. | 2.4 | |
Broadcom, Inc. | 2.1 | |
Exxon Mobil Corp. | 2.1 | |
Kawasaki Kisen Kaisha Ltd. | 2.1 | |
PepsiCo, Inc. | 1.9 | |
The Coca-Cola Co. | 1.9 | |
32.1 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 24.9 | |
Financials | 19.7 | |
Industrials | 15.4 | |
Consumer Staples | 11.2 | |
Energy | 9.8 | |
Real Estate | 7.9 | |
Health Care | 6.6 | |
Consumer Discretionary | 3.4 | |
Communication Services | 0.9 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.2% |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 99.8% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 0.9% | |||
Diversified Telecommunication Services - 0.2% | |||
AT&T, Inc. | 114,644 | 2,028,052 | |
Verizon Communications, Inc. | 61,961 | 2,624,048 | |
4,652,100 | |||
Entertainment - 0.1% | |||
Electronic Arts, Inc. | 12,264 | 1,687,281 | |
Warner Music Group Corp. Class A | 32,465 | 1,184,648 | |
2,871,929 | |||
Media - 0.6% | |||
Cable One, Inc. | 1,444 | 792,655 | |
Comcast Corp. Class A | 63,328 | 2,947,285 | |
Fox Corp. Class A | 37,190 | 1,201,237 | |
Interpublic Group of Companies, Inc. | 33,514 | 1,105,627 | |
News Corp. Class A | 58,976 | 1,453,169 | |
Nexstar Media Group, Inc. Class A | 5,815 | 1,033,384 | |
Omnicom Group, Inc. | 14,475 | 1,308,251 | |
Paramount Global Class B | 50,842 | 741,785 | |
TEGNA, Inc. | 59,788 | 932,095 | |
The New York Times Co. Class A | 33,449 | 1,624,283 | |
13,139,771 | |||
TOTAL COMMUNICATION SERVICES | 20,663,800 | ||
CONSUMER DISCRETIONARY - 3.4% | |||
Automobiles - 0.3% | |||
Ford Motor Co. | 503,241 | 5,897,985 | |
Broadline Retail - 0.2% | |||
Kohl's Corp. (a) | 179,468 | 4,623,096 | |
Hotels, Restaurants & Leisure - 0.9% | |||
McDonald's Corp. | 38,156 | 11,169,024 | |
Starbucks Corp. | 79,070 | 7,355,882 | |
18,524,906 | |||
Household Durables - 0.4% | |||
Newell Brands, Inc. | 374,828 | 3,118,569 | |
Vistry Group PLC | 481,710 | 6,165,008 | |
9,283,577 | |||
Specialty Retail - 1.3% | |||
Best Buy Co., Inc. | 70,102 | 5,081,694 | |
Lowe's Companies, Inc. | 40,184 | 8,552,763 | |
The Home Depot, Inc. | 39,064 | 13,788,029 | |
27,422,486 | |||
Textiles, Apparel & Luxury Goods - 0.3% | |||
NIKE, Inc. Class B | 72,888 | 7,400,319 | |
TOTAL CONSUMER DISCRETIONARY | 73,152,369 | ||
CONSUMER STAPLES - 11.2% | |||
Beverages - 3.8% | |||
PepsiCo, Inc. | 245,184 | 41,320,860 | |
The Coca-Cola Co. | 691,788 | 41,154,468 | |
82,475,328 | |||
Consumer Staples Distribution & Retail - 0.3% | |||
Target Corp. | 42,873 | 5,962,777 | |
Household Products - 2.4% | |||
Procter & Gamble Co. | 331,447 | 52,083,582 | |
Personal Care Products - 0.1% | |||
Kenvue, Inc. | 83,061 | 1,724,346 | |
Tobacco - 4.6% | |||
Altria Group, Inc. | 718,150 | 28,812,178 | |
British American Tobacco PLC (United Kingdom) | 594,214 | 17,695,472 | |
Imperial Brands PLC | 910,246 | 22,006,515 | |
Philip Morris International, Inc. | 364,930 | 33,153,891 | |
101,668,056 | |||
TOTAL CONSUMER STAPLES | 243,914,089 | ||
ENERGY - 9.8% | |||
Oil, Gas & Consumable Fuels - 9.8% | |||
Chevron Corp. | 241,613 | 35,621,005 | |
ConocoPhillips Co. | 289,754 | 32,414,780 | |
Coterra Energy, Inc. | 1,047,926 | 26,072,399 | |
Devon Energy Corp. | 442,842 | 18,608,221 | |
EOG Resources, Inc. | 230,564 | 26,235,878 | |
Exxon Mobil Corp. | 442,289 | 45,471,732 | |
Pioneer Natural Resources Co. | 125,770 | 28,905,719 | |
213,329,734 | |||
FINANCIALS - 19.7% | |||
Banks - 10.9% | |||
Bank of America Corp. | 1,121,979 | 38,158,506 | |
Citigroup, Inc. | 622,984 | 34,993,011 | |
ING Groep NV (Certificaten Van Aandelen) | 1,520,633 | 21,787,078 | |
Intesa Sanpaolo SpA | 7,869,292 | 24,472,977 | |
JPMorgan Chase & Co. | 351,002 | 61,200,709 | |
KBC Group NV | 279,787 | 18,380,999 | |
Wells Fargo & Co. | 777,269 | 39,003,358 | |
237,996,638 | |||
Capital Markets - 1.8% | |||
Blackstone, Inc. | 308,821 | 38,432,773 | |
Financial Services - 2.1% | |||
The Western Union Co. | 991,667 | 12,465,254 | |
Visa, Inc. Class A | 126,181 | 34,480,220 | |
46,945,474 | |||
Insurance - 2.5% | |||
American Financial Group, Inc. | 205,347 | 24,723,779 | |
Old Republic International Corp. | 1,043,779 | 29,267,563 | |
53,991,342 | |||
Mortgage Real Estate Investment Trusts - 2.4% | |||
Annaly Capital Management, Inc. | 1,151,676 | 22,100,662 | |
Rithm Capital Corp. | 2,861,706 | 30,620,254 | |
52,720,916 | |||
TOTAL FINANCIALS | 430,087,143 | ||
HEALTH CARE - 6.6% | |||
Biotechnology - 2.5% | |||
AbbVie, Inc. | 127,790 | 21,008,676 | |
Amgen, Inc. | 61,232 | 19,242,768 | |
Gilead Sciences, Inc. | 175,298 | 13,718,821 | |
53,970,265 | |||
Health Care Equipment & Supplies - 0.7% | |||
Medtronic PLC | 167,434 | 14,657,172 | |
Pharmaceuticals - 3.4% | |||
Bristol-Myers Squibb Co. | 216,127 | 10,562,126 | |
GSK PLC | 507,610 | 10,135,802 | |
Johnson & Johnson | 130,837 | 20,789,999 | |
Merck & Co., Inc. | 180,557 | 21,807,674 | |
Pfizer, Inc. | 413,146 | 11,187,994 | |
74,483,595 | |||
TOTAL HEALTH CARE | 143,111,032 | ||
INDUSTRIALS - 15.4% | |||
Aerospace & Defense - 2.8% | |||
Lockheed Martin Corp. | 68,442 | 29,389,679 | |
RTX Corp. | 342,338 | 31,193,839 | |
60,583,518 | |||
Air Freight & Logistics - 1.1% | |||
United Parcel Service, Inc. Class B | 172,723 | 24,509,394 | |
Ground Transportation - 1.7% | |||
Union Pacific Corp. | 152,683 | 37,243,964 | |
Industrial Conglomerates - 2.6% | |||
3M Co. | 242,450 | 22,875,158 | |
Honeywell International, Inc. | 159,252 | 32,210,310 | |
55,085,468 | |||
Machinery - 1.8% | |||
Caterpillar, Inc. | 132,229 | 39,709,691 | |
Marine Transportation - 5.4% | |||
A.P. Moller - Maersk A/S Series B | 8,396 | 15,570,127 | |
Kawasaki Kisen Kaisha Ltd. (a) | 919,400 | 45,292,283 | |
Mitsui OSK Lines Ltd. | 782,600 | 28,428,979 | |
Nippon Yusen KK | 806,800 | 28,137,961 | |
117,429,350 | |||
TOTAL INDUSTRIALS | 334,561,385 | ||
INFORMATION TECHNOLOGY - 24.9% | |||
Communications Equipment - 1.0% | |||
Cisco Systems, Inc. | 447,929 | 22,477,077 | |
IT Services - 1.2% | |||
IBM Corp. | 139,027 | 25,533,699 | |
Semiconductors & Semiconductor Equipment - 9.8% | |||
Broadcom, Inc. | 39,289 | 46,361,020 | |
Intel Corp. | 629,760 | 27,130,061 | |
NVIDIA Corp. | 163,644 | 100,685,244 | |
Qualcomm, Inc. | 148,073 | 21,990,321 | |
Texas Instruments, Inc. | 112,094 | 17,948,491 | |
214,115,137 | |||
Software - 6.4% | |||
Microsoft Corp. | 349,187 | 138,829,765 | |
Technology Hardware, Storage & Peripherals - 6.5% | |||
Apple, Inc. | 687,096 | 126,700,502 | |
HP, Inc. | 491,567 | 14,112,889 | |
140,813,391 | |||
TOTAL INFORMATION TECHNOLOGY | 541,769,069 | ||
REAL ESTATE - 7.9% | |||
Equity Real Estate Investment Trusts (REITs) - 7.9% | |||
American Tower Corp. | 102,396 | 20,033,777 | |
Crown Castle, Inc. | 138,664 | 15,010,378 | |
Digital Realty Trust, Inc. | 162,573 | 22,835,004 | |
Healthcare Trust of America, Inc. | 824,524 | 13,283,082 | |
Medical Properties Trust, Inc. (a) | 1,400,135 | 4,340,419 | |
Omega Healthcare Investors, Inc. | 600,829 | 17,424,041 | |
Prologis, Inc. | 180,302 | 22,842,460 | |
Public Storage | 65,105 | 18,437,085 | |
Simon Property Group, Inc. | 151,406 | 20,986,386 | |
Weyerhaeuser Co. | 533,299 | 17,476,208 | |
172,668,840 | |||
TOTAL COMMON STOCKS (Cost $1,966,969,761) | 2,173,257,461 | ||
Money Market Funds - 2.3% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (b) | 3,187,476 | 3,188,114 | |
Fidelity Securities Lending Cash Central Fund 5.39% (b)(c) | 48,442,031 | 48,446,875 | |
TOTAL MONEY MARKET FUNDS (Cost $51,634,989) | 51,634,989 | ||
TOTAL INVESTMENT IN SECURITIES - 102.1% (Cost $2,018,604,750) | 2,224,892,450 |
NET OTHER ASSETS (LIABILITIES) - (2.1)% | (46,716,869) |
NET ASSETS - 100.0% | 2,178,175,581 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Micro E-mini S&P 500 Index Contracts (United States) | 19 | Mar 2024 | 4,626,975 | 183,354 | 183,354 |
The notional amount of futures purchased as a percentage of Net Assets is 0.2% |
(a) | Security or a portion of the security is on loan at period end. |
(b) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 4,259,333 | 58,612,685 | 59,683,904 | 70,840 | - | - | 3,188,114 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 12,024,950 | 164,498,865 | 128,076,940 | 76,038 | - | - | 48,446,875 | 0.2% |
Total | 16,284,283 | 223,111,550 | 187,760,844 | 146,878 | - | - | 51,634,989 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 20,663,800 | 20,663,800 | - | - |
Consumer Discretionary | 73,152,369 | 73,152,369 | - | - |
Consumer Staples | 243,914,089 | 243,914,089 | - | - |
Energy | 213,329,734 | 213,329,734 | - | - |
Financials | 430,087,143 | 430,087,143 | - | - |
Health Care | 143,111,032 | 143,111,032 | - | - |
Industrials | 334,561,385 | 334,561,385 | - | - |
Information Technology | 541,769,069 | 541,769,069 | - | - |
Real Estate | 172,668,840 | 172,668,840 | - | - |
Money Market Funds | 51,634,989 | 51,634,989 | - | - |
Total Investments in Securities: | 2,224,892,450 | 2,224,892,450 | - | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 183,354 | 183,354 | - | - |
Total Assets | 183,354 | 183,354 | - | - |
Total Derivative Instruments: | 183,354 | 183,354 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 183,354 | 0 |
Total Equity Risk | 183,354 | 0 |
Total Value of Derivatives | 183,354 | 0 |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $46,090,898) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,966,969,761) | $ | 2,173,257,461 | ||
Fidelity Central Funds (cost $51,634,989) | 51,634,989 | |||
Total Investment in Securities (cost $2,018,604,750) | $ | 2,224,892,450 | ||
Segregated cash with brokers for derivative instruments | 224,200 | |||
Cash | 354,324 | |||
Foreign currency held at value (cost $19,628) | 19,891 | |||
Dividends receivable | 2,413,343 | |||
Distributions receivable from Fidelity Central Funds | 14,899 | |||
Total assets | 2,227,919,107 | |||
Liabilities | ||||
Payable for investments purchased | $ | 955,980 | ||
Accrued management fee | 264,196 | |||
Payable for daily variation margin on futures contracts | 76,475 | |||
Collateral on securities loaned | 48,446,875 | |||
Total Liabilities | 49,743,526 | |||
Net Assets | $ | 2,178,175,581 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 2,051,935,443 | ||
Total accumulated earnings (loss) | 126,240,138 | |||
Net Assets | $ | 2,178,175,581 | ||
Net Asset Value, offering price and redemption price per share ($2,178,175,581 ÷ 50,900,000 shares) | $ | 42.79 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 30,881,371 | ||
Income from Fidelity Central Funds (including $76,038 from security lending) | 146,878 | |||
Total Income | 31,028,249 | |||
Expenses | ||||
Management fee | $ | 1,962,297 | ||
Independent trustees' fees and expenses | 4,967 | |||
Total expenses before reductions | 1,967,264 | |||
Expense reductions | (22) | |||
Total expenses after reductions | 1,967,242 | |||
Net Investment income (loss) | 29,061,007 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (1,281,789) | |||
Redemptions in-kind | 2,021,652 | |||
Foreign currency transactions | 7,073 | |||
Futures contracts | 217,287 | |||
Total net realized gain (loss) | 964,223 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 77,094,280 | |||
Assets and liabilities in foreign currencies | 385 | |||
Futures contracts | (91,452) | |||
Total change in net unrealized appreciation (depreciation) | 77,003,213 | |||
Net gain (loss) | 77,967,436 | |||
Net increase (decrease) in net assets resulting from operations | $ | 107,028,443 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 29,061,007 | $ | 50,654,597 |
Net realized gain (loss) | 964,223 | 42,986,548 | ||
Change in net unrealized appreciation (depreciation) | 77,003,213 | 77,459,908 | ||
Net increase (decrease) in net assets resulting from operations | 107,028,443 | 171,101,053 | ||
Distributions to shareholders | (33,244,700) | (52,210,250) | ||
Share transactions | ||||
Proceeds from sales of shares | 414,930,090 | 615,856,682 | ||
Cost of shares redeemed | (6,305,500) | (317,034,432) | ||
Net increase (decrease) in net assets resulting from share transactions | 408,624,590 | 298,822,250 | ||
Total increase (decrease) in net assets | 482,408,333 | 417,713,053 | ||
Net Assets | ||||
Beginning of period | 1,695,767,248 | 1,278,054,195 | ||
End of period | $ | 2,178,175,581 | $ | 1,695,767,248 |
Other Information | ||||
Shares | ||||
Sold | 10,200,000 | 15,700,000 | ||
Redeemed | (150,000) | (8,100,000) | ||
Net increase (decrease) | 10,050,000 | 7,600,000 | ||
Fidelity® High Dividend ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 41.51 | $ | 38.44 | $ | 38.05 | $ | 27.56 | $ | 30.12 | $ | 30.15 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .64 | 1.39 | 1.21 | 1.02 | 1.10 | 1.23 | ||||||
Net realized and unrealized gain (loss) | 1.37 | 3.11 | .44 | 10.48 | (2.52) | (.03) | ||||||
Total from investment operations | 2.01 | 4.50 | 1.65 | 11.50 | (1.42) | 1.20 | ||||||
Distributions from net investment income | (.73) | (1.43) | (1.26) | (1.01) | (1.14) | (1.23) | ||||||
Total distributions | (.73) | (1.43) | (1.26) | (1.01) | (1.14) | (1.23) | ||||||
Net asset value, end of period | $ | 42.79 | $ | 41.51 | $ | 38.44 | $ | 38.05 | $ | 27.56 | $ | 30.12 |
Total Return C,D,E | 4.93% | 12.22% | 4.43% | 42.42% | (4.54)% | 4.16% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .22% H | .29% | .29% | .29% | .29% | .29% | ||||||
Expenses net of fee waivers, if any | .22% H | .29% | .29% | .29% | .29% | .29% | ||||||
Expenses net of all reductions | .22% H | .29% | .29% | .29% | .29% | .29% | ||||||
Net investment income (loss) | 3.18% H | 3.66% | 3.11% | 3.04% | 3.85% | 4.15% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 2,178,176 | $ | 1,695,767 | $ | 1,278,054 | $ | 1,052,122 | $ | 520,795 | $ | 362,952 |
Portfolio turnover rate I,J | 4% H | 52% | 38% | 32% | 49% | 50% |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 7.7 | |
Apple, Inc. | 7.0 | |
Alphabet, Inc. Class A | 4.0 | |
Eli Lilly & Co. | 2.0 | |
JPMorgan Chase & Co. | 1.8 | |
UnitedHealth Group, Inc. | 1.7 | |
Visa, Inc. Class A | 1.7 | |
The Home Depot, Inc. | 1.5 | |
MasterCard, Inc. Class A | 1.5 | |
Accenture PLC Class A | 1.5 | |
30.4 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 26.9 | |
Financials | 14.4 | |
Health Care | 13.4 | |
Consumer Discretionary | 10.4 | |
Industrials | 9.6 | |
Communication Services | 8.0 | |
Consumer Staples | 5.7 | |
Energy | 4.0 | |
Real Estate | 2.6 | |
Materials | 2.6 | |
Utilities | 2.2 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.2% |
Common Stocks - 99.8% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 8.0% | |||
Diversified Telecommunication Services - 1.8% | |||
AT&T, Inc. | 500,991 | 8,862,531 | |
Verizon Communications, Inc. | 240,730 | 10,194,916 | |
19,057,447 | |||
Interactive Media & Services - 4.0% | |||
Alphabet, Inc. Class A (a) | 296,679 | 41,564,728 | |
Media - 1.4% | |||
Comcast Corp. Class A | 201,613 | 9,383,069 | |
Omnicom Group, Inc. | 61,924 | 5,596,691 | |
14,979,760 | |||
Wireless Telecommunication Services - 0.8% | |||
T-Mobile U.S., Inc. | 48,181 | 7,768,223 | |
TOTAL COMMUNICATION SERVICES | 83,370,158 | ||
CONSUMER DISCRETIONARY - 10.4% | |||
Hotels, Restaurants & Leisure - 2.8% | |||
McDonald's Corp. | 41,215 | 12,064,455 | |
Starbucks Corp. | 95,290 | 8,864,829 | |
Yum! Brands, Inc. | 58,163 | 7,531,527 | |
28,460,811 | |||
Household Durables - 0.8% | |||
Garmin Ltd. | 69,348 | 8,286,393 | |
Specialty Retail - 5.9% | |||
AutoZone, Inc. (a) | 3,269 | 9,029,403 | |
Lowe's Companies, Inc. | 44,852 | 9,546,300 | |
O'Reilly Automotive, Inc. (a) | 8,947 | 9,153,228 | |
The Home Depot, Inc. | 45,006 | 15,885,318 | |
TJX Companies, Inc. | 108,312 | 10,279,892 | |
Tractor Supply Co. (b) | 33,365 | 7,493,779 | |
61,387,920 | |||
Textiles, Apparel & Luxury Goods - 0.9% | |||
NIKE, Inc. Class B | 93,332 | 9,475,998 | |
TOTAL CONSUMER DISCRETIONARY | 107,611,122 | ||
CONSUMER STAPLES - 5.7% | |||
Beverages - 1.6% | |||
PepsiCo, Inc. | 48,597 | 8,190,052 | |
The Coca-Cola Co. | 140,755 | 8,373,515 | |
16,563,567 | |||
Consumer Staples Distribution & Retail - 1.1% | |||
Dollar General Corp. | 23,109 | 3,052,006 | |
Walmart, Inc. | 52,015 | 8,595,479 | |
11,647,485 | |||
Food Products - 0.9% | |||
General Mills, Inc. | 54,511 | 3,538,309 | |
Hormel Foods Corp. | 81,089 | 2,462,673 | |
The Hershey Co. | 16,584 | 3,209,667 | |
9,210,649 | |||
Household Products - 2.0% | |||
Colgate-Palmolive Co. | 59,128 | 4,978,578 | |
Kimberly-Clark Corp. | 31,514 | 3,812,249 | |
Procter & Gamble Co. | 74,758 | 11,747,472 | |
20,538,299 | |||
Personal Care Products - 0.1% | |||
Kenvue, Inc. | 56,863 | 1,180,476 | |
TOTAL CONSUMER STAPLES | 59,140,476 | ||
ENERGY - 4.0% | |||
Oil, Gas & Consumable Fuels - 4.0% | |||
Cheniere Energy, Inc. | 16,781 | 2,751,916 | |
Chesapeake Energy Corp. (b) | 24,234 | 1,868,684 | |
Chevron Corp. | 52,400 | 7,725,332 | |
ConocoPhillips Co. | 44,323 | 4,958,414 | |
Coterra Energy, Inc. | 83,583 | 2,079,545 | |
DT Midstream, Inc. | 37,220 | 1,998,342 | |
Exxon Mobil Corp. | 112,062 | 11,521,094 | |
Kinder Morgan, Inc. | 150,715 | 2,550,098 | |
Pioneer Natural Resources Co. | 13,443 | 3,089,605 | |
The Williams Companies, Inc. | 81,554 | 2,826,662 | |
41,369,692 | |||
FINANCIALS - 14.4% | |||
Banks - 1.8% | |||
JPMorgan Chase & Co. | 107,254 | 18,700,807 | |
Capital Markets - 1.5% | |||
Cboe Global Markets, Inc. | 45,512 | 8,367,381 | |
CME Group, Inc. | 38,164 | 7,855,678 | |
16,223,059 | |||
Financial Services - 3.8% | |||
Jack Henry & Associates, Inc. | 36,920 | 6,122,444 | |
MasterCard, Inc. Class A | 35,007 | 15,726,195 | |
Visa, Inc. Class A | 63,276 | 17,290,800 | |
39,139,439 | |||
Insurance - 7.3% | |||
Arthur J. Gallagher & Co. | 32,146 | 7,463,015 | |
Assurant, Inc. | 43,766 | 7,350,500 | |
Brown & Brown, Inc. | 90,837 | 7,045,318 | |
Chubb Ltd. | 39,442 | 9,663,290 | |
Erie Indemnity Co. Class A | 23,133 | 8,000,085 | |
Marsh & McLennan Companies, Inc. | 43,184 | 8,370,787 | |
Progressive Corp. | 60,538 | 10,790,899 | |
The Travelers Companies, Inc. | 41,001 | 8,665,971 | |
W.R. Berkley Corp. | 101,375 | 8,300,585 | |
75,650,450 | |||
TOTAL FINANCIALS | 149,713,755 | ||
HEALTH CARE - 13.4% | |||
Biotechnology - 3.4% | |||
AbbVie, Inc. | 81,843 | 13,454,989 | |
Amgen, Inc. | 38,645 | 12,144,578 | |
Regeneron Pharmaceuticals, Inc. (a) | 10,362 | 9,769,086 | |
35,368,653 | |||
Health Care Equipment & Supplies - 2.6% | |||
Abbott Laboratories | 96,878 | 10,961,746 | |
Becton, Dickinson & Co. | 29,079 | 6,944,356 | |
Medtronic PLC | 102,538 | 8,976,177 | |
26,882,279 | |||
Health Care Providers & Services - 1.7% | |||
UnitedHealth Group, Inc. | 33,814 | 17,303,976 | |
Life Sciences Tools & Services - 1.0% | |||
Thermo Fisher Scientific, Inc. | 20,045 | 10,803,854 | |
Pharmaceuticals - 4.7% | |||
Eli Lilly & Co. | 31,932 | 20,615,619 | |
Johnson & Johnson | 89,290 | 14,188,181 | |
Merck & Co., Inc. | 116,583 | 14,080,895 | |
48,884,695 | |||
TOTAL HEALTH CARE | 139,243,457 | ||
INDUSTRIALS - 9.6% | |||
Aerospace & Defense - 2.5% | |||
General Dynamics Corp. | 25,829 | 6,844,427 | |
L3Harris Technologies, Inc. | 29,499 | 6,148,182 | |
Lockheed Martin Corp. | 15,664 | 6,726,278 | |
Northrop Grumman Corp. | 13,872 | 6,197,455 | |
25,916,342 | |||
Commercial Services & Supplies - 1.2% | |||
Republic Services, Inc. | 35,920 | 6,146,630 | |
Waste Management, Inc. | 37,509 | 6,962,796 | |
13,109,426 | |||
Ground Transportation - 0.8% | |||
Union Pacific Corp. | 34,503 | 8,416,317 | |
Industrial Conglomerates - 0.8% | |||
Honeywell International, Inc. | 39,988 | 8,087,973 | |
Machinery - 1.5% | |||
Graco, Inc. | 63,068 | 5,379,700 | |
Otis Worldwide Corp. | 61,444 | 5,434,107 | |
Toro Co. | 48,161 | 4,453,929 | |
15,267,736 | |||
Professional Services - 2.8% | |||
Automatic Data Processing, Inc. | 28,419 | 6,984,822 | |
Booz Allen Hamilton Holding Corp. Class A (b) | 40,348 | 5,679,788 | |
FTI Consulting, Inc. (a) | 26,161 | 5,012,709 | |
Paychex, Inc. | 44,719 | 5,443,644 | |
Verisk Analytics, Inc. | 23,525 | 5,681,993 | |
28,802,956 | |||
TOTAL INDUSTRIALS | 99,600,750 | ||
INFORMATION TECHNOLOGY - 26.9% | |||
Communications Equipment - 2.3% | |||
Cisco Systems, Inc. | 255,794 | 12,835,743 | |
Motorola Solutions, Inc. | 33,397 | 10,670,342 | |
23,506,085 | |||
IT Services - 5.7% | |||
Accenture PLC Class A | 41,585 | 15,131,950 | |
Akamai Technologies, Inc. (a) | 94,959 | 11,701,798 | |
Amdocs Ltd. | 98,135 | 8,997,017 | |
IBM Corp. | 80,033 | 14,698,861 | |
VeriSign, Inc. (a) | 42,853 | 8,522,605 | |
59,052,231 | |||
Semiconductors & Semiconductor Equipment - 1.1% | |||
Texas Instruments, Inc. | 70,667 | 11,315,200 | |
Software - 10.8% | |||
Microsoft Corp. | 200,790 | 79,830,077 | |
Oracle Corp. | 110,181 | 12,307,218 | |
Roper Technologies, Inc. | 19,763 | 10,612,731 | |
Tyler Technologies, Inc. (a) | 23,133 | 9,779,476 | |
112,529,502 | |||
Technology Hardware, Storage & Peripherals - 7.0% | |||
Apple, Inc. | 392,013 | 72,287,197 | |
TOTAL INFORMATION TECHNOLOGY | 278,690,215 | ||
MATERIALS - 2.6% | |||
Chemicals - 1.9% | |||
Air Products & Chemicals, Inc. | 10,043 | 2,568,096 | |
Balchem Corp. | 10,809 | 1,514,989 | |
Ecolab, Inc. | 13,249 | 2,626,217 | |
FMC Corp. | 17,733 | 996,595 | |
Linde PLC | 15,039 | 6,088,238 | |
PPG Industries, Inc. | 15,136 | 2,134,781 | |
Sherwin-Williams Co. | 10,443 | 3,178,640 | |
19,107,556 | |||
Construction Materials - 0.4% | |||
Martin Marietta Materials, Inc. | 4,441 | 2,257,893 | |
Vulcan Materials Co. | 9,096 | 2,055,787 | |
4,313,680 | |||
Containers & Packaging - 0.3% | |||
Aptargroup, Inc. | 12,729 | 1,653,243 | |
Packaging Corp. of America | 10,785 | 1,789,016 | |
3,442,259 | |||
TOTAL MATERIALS | 26,863,495 | ||
REAL ESTATE - 2.6% | |||
Equity Real Estate Investment Trusts (REITs) - 2.6% | |||
Agree Realty Corp. (b) | 22,555 | 1,344,504 | |
American Homes 4 Rent Class A | 43,154 | 1,512,548 | |
American Tower Corp. | 18,040 | 3,529,526 | |
Crown Castle, Inc. | 22,743 | 2,461,930 | |
CubeSmart | 35,818 | 1,548,054 | |
Equinix, Inc. | 3,932 | 3,262,656 | |
Equity Lifestyle Properties, Inc. | 22,760 | 1,540,624 | |
Extra Space Storage, Inc. | 14,384 | 2,077,625 | |
Mid-America Apartment Communities, Inc. | 11,757 | 1,485,850 | |
Prologis, Inc. | 32,340 | 4,097,155 | |
Public Storage | 8,308 | 2,352,743 | |
Realty Income Corp. | 38,120 | 2,073,347 | |
27,286,562 | |||
UTILITIES - 2.2% | |||
Electric Utilities - 1.3% | |||
American Electric Power Co., Inc. | 34,864 | 2,724,273 | |
Duke Energy Corp. | 38,769 | 3,715,233 | |
NextEra Energy, Inc. | 74,191 | 4,349,818 | |
Xcel Energy, Inc. | 43,372 | 2,596,682 | |
13,386,006 | |||
Multi-Utilities - 0.9% | |||
Ameren Corp. | 28,683 | 1,995,476 | |
CMS Energy Corp. | 38,852 | 2,220,780 | |
Consolidated Edison, Inc. | 28,831 | 2,620,738 | |
WEC Energy Group, Inc. | 28,552 | 2,305,860 | |
9,142,854 | |||
TOTAL UTILITIES | 22,528,860 | ||
TOTAL COMMON STOCKS (Cost $971,631,353) | 1,035,418,542 | ||
Money Market Funds - 0.7% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (c) | 1,439,350 | 1,439,638 | |
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d) | 5,828,966 | 5,829,549 | |
TOTAL MONEY MARKET FUNDS (Cost $7,269,187) | 7,269,187 | ||
TOTAL INVESTMENT IN SECURITIES - 100.5% (Cost $978,900,540) | 1,042,687,729 |
NET OTHER ASSETS (LIABILITIES) - (0.5)% | (4,839,365) |
NET ASSETS - 100.0% | 1,037,848,364 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P 500 Index Contracts (United States) | 93 | Mar 2024 | 2,264,783 | 67,584 | 67,584 |
The notional amount of futures purchased as a percentage of Net Assets is 0.2% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 909,740 | 28,186,305 | 27,656,407 | 32,187 | - | - | 1,439,638 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 3,428,449 | 31,895,900 | 29,494,800 | 7,879 | - | - | 5,829,549 | 0.0% |
Total | 4,338,189 | 60,082,205 | 57,151,207 | 40,066 | - | - | 7,269,187 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 83,370,158 | 83,370,158 | - | - |
Consumer Discretionary | 107,611,122 | 107,611,122 | - | - |
Consumer Staples | 59,140,476 | 59,140,476 | - | - |
Energy | 41,369,692 | 41,369,692 | - | - |
Financials | 149,713,755 | 149,713,755 | - | - |
Health Care | 139,243,457 | 139,243,457 | - | - |
Industrials | 99,600,750 | 99,600,750 | - | - |
Information Technology | 278,690,215 | 278,690,215 | - | - |
Materials | 26,863,495 | 26,863,495 | - | - |
Real Estate | 27,286,562 | 27,286,562 | - | - |
Utilities | 22,528,860 | 22,528,860 | - | - |
Money Market Funds | 7,269,187 | 7,269,187 | - | - |
Total Investments in Securities: | 1,042,687,729 | 1,042,687,729 | - | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 67,584 | 67,584 | - | - |
Total Assets | 67,584 | 67,584 | - | - |
Total Derivative Instruments: | 67,584 | 67,584 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 67,584 | 0 |
Total Equity Risk | 67,584 | 0 |
Total Value of Derivatives | 67,584 | 0 |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $5,620,507) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $971,631,353) | $ | 1,035,418,542 | ||
Fidelity Central Funds (cost $7,269,187) | 7,269,187 | |||
Total Investment in Securities (cost $978,900,540) | $ | 1,042,687,729 | ||
Segregated cash with brokers for derivative instruments | 109,740 | |||
Receivable for fund shares sold | 2,735,621 | |||
Dividends receivable | 1,025,041 | |||
Distributions receivable from Fidelity Central Funds | 4,778 | |||
Total assets | 1,046,562,909 | |||
Liabilities | ||||
Payable for investments purchased | $ | 2,717,073 | ||
Accrued management fee | 130,504 | |||
Payable for daily variation margin on futures contracts | 37,433 | |||
Other payables and accrued expenses | 10 | |||
Collateral on securities loaned | 5,829,525 | |||
Total Liabilities | 8,714,545 | |||
Net Assets | $ | 1,037,848,364 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 974,894,904 | ||
Total accumulated earnings (loss) | 62,953,460 | |||
Net Assets | $ | 1,037,848,364 | ||
Net Asset Value, offering price and redemption price per share ($1,037,848,364 ÷ 19,250,000 shares) | $ | 53.91 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 6,935,989 | ||
Income from Fidelity Central Funds (including $7,879 from security lending) | 40,066 | |||
Total Income | 6,976,055 | |||
Expenses | ||||
Management fee | $ | 760,705 | ||
Independent trustees' fees and expenses | 1,821 | |||
Total expenses before reductions | 762,526 | |||
Expense reductions | (218) | |||
Total expenses after reductions | 762,308 | |||
Net Investment income (loss) | 6,213,747 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (13,472,043) | |||
Redemptions in-kind | 51,597,529 | |||
Futures contracts | 83,822 | |||
Total net realized gain (loss) | 38,209,308 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 15,406,365 | |||
Futures contracts | (4,837) | |||
Total change in net unrealized appreciation (depreciation) | 15,401,528 | |||
Net gain (loss) | 53,610,836 | |||
Net increase (decrease) in net assets resulting from operations | $ | 59,824,583 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 6,213,747 | $ | 7,517,780 |
Net realized gain (loss) | 38,209,308 | 1,037,183 | ||
Change in net unrealized appreciation (depreciation) | 15,401,528 | 36,445,989 | ||
Net increase (decrease) in net assets resulting from operations | 59,824,583 | 45,000,952 | ||
Distributions to shareholders | (5,292,550) | (7,460,700) | ||
Share transactions | ||||
Proceeds from sales of shares | 678,737,692 | 126,351,905 | ||
Cost of shares redeemed | (249,026,094) | (55,150,184) | ||
Net increase (decrease) in net assets resulting from share transactions | 429,711,598 | 71,201,721 | ||
Total increase (decrease) in net assets | 484,243,631 | 108,741,973 | ||
Net Assets | ||||
Beginning of period | 553,604,733 | 444,862,760 | ||
End of period | $ | 1,037,848,364 | $ | 553,604,733 |
Other Information | ||||
Shares | ||||
Sold | 13,200,000 | 2,700,000 | ||
Redeemed | (4,800,000) | (1,200,000) | ||
Net increase (decrease) | 8,400,000 | 1,500,000 | ||
Fidelity® Low Volatility Factor ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 51.02 | $ | 47.58 | $ | 48.75 | $ | 38.33 | $ | 36.37 | $ | 32.40 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .43 | .74 | .62 | .56 | .62 | .62 | ||||||
Net realized and unrealized gain (loss) | 2.80 | 3.44 | (1.17) | 10.43 | 1.95 | 3.92 | ||||||
Total from investment operations | 3.23 | 4.18 | (.55) | 10.99 | 2.57 | 4.54 | ||||||
Distributions from net investment income | (.34) | (.74) | (.62) | (.57) | (.61) | (.57) | ||||||
Total distributions | (.34) | (.74) | (.62) | (.57) | (.61) | (.57) | ||||||
Net asset value, end of period | $ | 53.91 | $ | 51.02 | $ | 47.58 | $ | 48.75 | $ | 38.33 | $ | 36.37 |
Total Return C,D,E | 6.36% | 8.96% | (1.12)% | 28.90% | 7.29% | 14.20% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .21% H | .29% | .29% | .29% | .29% | .29% | ||||||
Expenses net of fee waivers, if any | .21% H | .29% | .29% | .29% | .29% | .29% | ||||||
Expenses net of all reductions | .20% H | .29% | .29% | .29% | .29% | .29% | ||||||
Net investment income (loss) | 1.67% H | 1.57% | 1.27% | 1.31% | 1.69% | 1.83% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 1,037,848 | $ | 553,605 | $ | 444,863 | $ | 511,897 | $ | 350,708 | $ | 245,502 |
Portfolio turnover rate I,J | 34% H | 46% | 28% | 46% | 31% | 36% |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 6.9 | |
Apple, Inc. | 6.4 | |
NVIDIA Corp. | 4.0 | |
Alphabet, Inc. Class A | 3.6 | |
Amazon.com, Inc. | 3.5 | |
Meta Platforms, Inc. Class A | 2.1 | |
Eli Lilly & Co. | 2.0 | |
Berkshire Hathaway, Inc. Class B | 2.0 | |
Broadcom, Inc. | 1.8 | |
JPMorgan Chase & Co. | 1.6 | |
33.9 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 28.5 | |
Health Care | 13.4 | |
Financials | 12.7 | |
Consumer Discretionary | 10.5 | |
Industrials | 9.7 | |
Communication Services | 8.2 | |
Consumer Staples | 5.8 | |
Energy | 3.8 | |
Real Estate | 2.6 | |
Materials | 2.5 | |
Utilities | 2.1 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.2% |
Common Stocks - 99.8% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 8.2% | |||
Entertainment - 1.5% | |||
Liberty Media Corp. Liberty Formula One Class C | 8,344 | 561,134 | |
Netflix, Inc. (a) | 2,885 | 1,627,457 | |
Take-Two Interactive Software, Inc. (a) | 3,944 | 650,484 | |
2,839,075 | |||
Interactive Media & Services - 5.7% | |||
Alphabet, Inc. Class A (a) | 48,793 | 6,835,899 | |
Meta Platforms, Inc. Class A | 10,579 | 4,127,291 | |
10,963,190 | |||
Media - 1.0% | |||
Comcast Corp. Class A | 27,558 | 1,282,549 | |
The Trade Desk, Inc. (a) | 7,819 | 535,054 | |
1,817,603 | |||
TOTAL COMMUNICATION SERVICES | 15,619,868 | ||
CONSUMER DISCRETIONARY - 10.5% | |||
Automobiles - 1.5% | |||
Tesla, Inc. (a) | 14,899 | 2,790,434 | |
Broadline Retail - 3.5% | |||
Amazon.com, Inc. (a) | 42,918 | 6,660,874 | |
Diversified Consumer Services - 0.5% | |||
Duolingo, Inc. (a) | 5,347 | 956,525 | |
Hotels, Restaurants & Leisure - 3.2% | |||
Airbnb, Inc. Class A (a) | 8,509 | 1,226,487 | |
Booking Holdings, Inc. (a) | 421 | 1,476,645 | |
Doordash, Inc. (a) | 10,125 | 1,055,025 | |
Draftkings Holdings, Inc. (a) | 28,863 | 1,127,100 | |
Royal Caribbean Cruises Ltd. (a) | 9,812 | 1,251,030 | |
6,136,287 | |||
Household Durables - 1.8% | |||
D.R. Horton, Inc. | 8,095 | 1,156,856 | |
PulteGroup, Inc. | 10,646 | 1,113,146 | |
TopBuild Corp. (a) | 3,191 | 1,177,894 | |
3,447,896 | |||
TOTAL CONSUMER DISCRETIONARY | 19,992,016 | ||
CONSUMER STAPLES - 5.8% | |||
Beverages - 1.0% | |||
Celsius Holdings, Inc. (a) | 11,253 | 561,525 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 3,080 | 754,846 | |
Molson Coors Beverage Co. Class B | 10,711 | 661,833 | |
1,978,204 | |||
Consumer Staples Distribution & Retail - 1.8% | |||
Costco Wholesale Corp. | 2,847 | 1,978,323 | |
Walmart, Inc. | 9,330 | 1,541,783 | |
3,520,106 | |||
Food Products - 0.6% | |||
Mondelez International, Inc. | 14,042 | 1,056,941 | |
Household Products - 1.5% | |||
Church & Dwight Co., Inc. | 7,259 | 724,811 | |
Procter & Gamble Co. | 13,469 | 2,116,519 | |
2,841,330 | |||
Personal Care Products - 0.9% | |||
BellRing Brands, Inc. (a) | 13,515 | 746,974 | |
elf Beauty, Inc. (a) | 6,094 | 972,176 | |
1,719,150 | |||
TOTAL CONSUMER STAPLES | 11,115,731 | ||
ENERGY - 3.8% | |||
Energy Equipment & Services - 1.4% | |||
Baker Hughes Co. Class A | 15,941 | 454,319 | |
Schlumberger Ltd. | 13,134 | 639,626 | |
TechnipFMC PLC | 20,474 | 395,967 | |
Tidewater, Inc. (a) | 6,107 | 410,329 | |
Transocean Ltd. (United States) (a)(b) | 63,606 | 347,289 | |
Weatherford International PLC (a) | 4,520 | 404,766 | |
2,652,296 | |||
Oil, Gas & Consumable Fuels - 2.4% | |||
Cheniere Energy, Inc. | 3,348 | 549,039 | |
Exxon Mobil Corp. | 20,265 | 2,083,445 | |
Marathon Petroleum Corp. | 4,324 | 716,054 | |
Phillips 66 Co. | 5,369 | 774,800 | |
Targa Resources Corp. | 5,559 | 472,293 | |
4,595,631 | |||
TOTAL ENERGY | 7,247,927 | ||
FINANCIALS - 12.7% | |||
Banks - 2.1% | |||
First Citizens Bancshares, Inc. | 615 | 928,650 | |
JPMorgan Chase & Co. | 17,574 | 3,064,203 | |
3,992,853 | |||
Capital Markets - 2.5% | |||
CME Group, Inc. | 5,227 | 1,075,926 | |
Moody's Corp. | 3,090 | 1,211,404 | |
S&P Global, Inc. | 3,457 | 1,549,946 | |
Tradeweb Markets, Inc. Class A | 9,195 | 877,111 | |
4,714,387 | |||
Financial Services - 6.5% | |||
Apollo Global Management, Inc. | 11,285 | 1,133,014 | |
Berkshire Hathaway, Inc. Class B (a) | 9,767 | 3,747,989 | |
Fiserv, Inc. (a) | 9,277 | 1,316,128 | |
FleetCor Technologies, Inc. (a) | 3,674 | 1,065,203 | |
MasterCard, Inc. Class A | 5,496 | 2,468,968 | |
Visa, Inc. Class A | 9,877 | 2,698,989 | |
12,430,291 | |||
Insurance - 1.6% | |||
Arch Capital Group Ltd. (a) | 10,820 | 891,893 | |
Kinsale Capital Group, Inc. | 2,406 | 956,553 | |
Marsh & McLennan Companies, Inc. | 6,148 | 1,191,728 | |
3,040,174 | |||
TOTAL FINANCIALS | 24,177,705 | ||
HEALTH CARE - 13.4% | |||
Biotechnology - 3.5% | |||
Exact Sciences Corp. (a) | 25,085 | 1,640,559 | |
ImmunoGen, Inc. (a) | 99,034 | 2,903,677 | |
Vertex Pharmaceuticals, Inc. (a) | 5,090 | 2,205,904 | |
6,750,140 | |||
Health Care Equipment & Supplies - 5.8% | |||
Align Technology, Inc. (a) | 8,198 | 2,191,489 | |
Boston Scientific Corp. (a) | 34,960 | 2,211,570 | |
Intuitive Surgical, Inc. (a) | 6,907 | 2,612,366 | |
STERIS PLC | 7,542 | 1,651,321 | |
Stryker Corp. | 6,845 | 2,296,361 | |
10,963,107 | |||
Life Sciences Tools & Services - 1.0% | |||
West Pharmaceutical Services, Inc. | 4,937 | 1,841,649 | |
Pharmaceuticals - 3.1% | |||
Eli Lilly & Co. | 5,891 | 3,803,289 | |
Zoetis, Inc. Class A | 11,340 | 2,129,765 | |
5,933,054 | |||
TOTAL HEALTH CARE | 25,487,950 | ||
INDUSTRIALS - 9.7% | |||
Aerospace & Defense - 0.6% | |||
TransDigm Group, Inc. | 1,071 | 1,170,260 | |
Air Freight & Logistics - 0.5% | |||
FedEx Corp. | 3,931 | 948,511 | |
Building Products - 1.1% | |||
Builders FirstSource, Inc. (a) | 6,594 | 1,145,576 | |
Owens Corning | 6,590 | 998,583 | |
2,144,159 | |||
Commercial Services & Supplies - 0.5% | |||
Copart, Inc. | 19,859 | 954,026 | |
Electrical Equipment - 1.2% | |||
Eaton Corp. PLC | 5,048 | 1,242,212 | |
Vertiv Holdings Co. | 19,885 | 1,120,122 | |
2,362,334 | |||
Ground Transportation - 1.8% | |||
Old Dominion Freight Lines, Inc. | 2,261 | 884,096 | |
Saia, Inc. (a) | 2,058 | 927,294 | |
Uber Technologies, Inc. (a) | 24,250 | 1,582,798 | |
3,394,188 | |||
Industrial Conglomerates - 0.8% | |||
General Electric Co. | 11,305 | 1,497,008 | |
Machinery - 2.1% | |||
ESAB Corp. | 10,431 | 896,962 | |
PACCAR, Inc. | 10,881 | 1,092,344 | |
Parker Hannifin Corp. | 2,344 | 1,088,788 | |
Pentair PLC | 12,916 | 945,064 | |
4,023,158 | |||
Professional Services - 0.5% | |||
Verisk Analytics, Inc. | 3,801 | 918,056 | |
Trading Companies & Distributors - 0.6% | |||
Ferguson PLC | 5,562 | 1,044,877 | |
TOTAL INDUSTRIALS | 18,456,577 | ||
INFORMATION TECHNOLOGY - 28.5% | |||
IT Services - 0.7% | |||
MongoDB, Inc. Class A (a) | 3,345 | 1,339,739 | |
Semiconductors & Semiconductor Equipment - 7.2% | |||
Advanced Micro Devices, Inc. (a) | 15,974 | 2,678,680 | |
Broadcom, Inc. | 2,844 | 3,355,920 | |
NVIDIA Corp. | 12,444 | 7,656,420 | |
13,691,020 | |||
Software - 14.2% | |||
Adobe, Inc. (a) | 3,670 | 2,267,253 | |
Cadence Design Systems, Inc. (a) | 5,230 | 1,508,646 | |
Fair Isaac Corp. (a) | 1,217 | 1,458,976 | |
HubSpot, Inc. (a) | 2,594 | 1,584,934 | |
Microsoft Corp. | 33,374 | 13,268,830 | |
Salesforce, Inc. (a) | 8,837 | 2,483,992 | |
ServiceNow, Inc. (a) | 2,509 | 1,920,389 | |
Splunk, Inc. (a) | 7,490 | 1,148,741 | |
Synopsys, Inc. (a) | 2,730 | 1,456,046 | |
27,097,807 | |||
Technology Hardware, Storage & Peripherals - 6.4% | |||
Apple, Inc. | 65,978 | 12,166,343 | |
TOTAL INFORMATION TECHNOLOGY | 54,294,909 | ||
MATERIALS - 2.5% | |||
Chemicals - 1.5% | |||
Air Products & Chemicals, Inc. | 1,615 | 412,972 | |
Ecolab, Inc. | 2,225 | 441,040 | |
Linde PLC | 2,525 | 1,022,196 | |
PPG Industries, Inc. | 2,598 | 366,422 | |
Sherwin-Williams Co. | 1,796 | 546,666 | |
2,789,296 | |||
Construction Materials - 0.3% | |||
Eagle Materials, Inc. | 1,408 | 318,602 | |
Martin Marietta Materials, Inc. | 714 | 363,012 | |
681,614 | |||
Metals & Mining - 0.7% | |||
ATI, Inc. (a) | 5,543 | 226,542 | |
Nucor Corp. | 2,362 | 441,529 | |
Reliance Steel & Aluminum Co. | 1,006 | 287,133 | |
United States Steel Corp. | 6,870 | 323,027 | |
1,278,231 | |||
TOTAL MATERIALS | 4,749,141 | ||
REAL ESTATE - 2.6% | |||
Equity Real Estate Investment Trusts (REITs) - 2.4% | |||
American Homes 4 Rent Class A | 8,310 | 291,266 | |
AvalonBay Communities, Inc. | 1,979 | 354,261 | |
Digital Realty Trust, Inc. | 3,041 | 427,139 | |
EastGroup Properties, Inc. | 1,572 | 278,920 | |
Equinix, Inc. | 684 | 567,563 | |
Invitation Homes, Inc. | 9,984 | 328,773 | |
Iron Mountain, Inc. | 5,149 | 347,660 | |
Prologis, Inc. | 6,032 | 764,194 | |
Simon Property Group, Inc. | 3,369 | 466,977 | |
Stag Industrial, Inc. (b) | 7,403 | 273,467 | |
Welltower, Inc. | 4,798 | 415,075 | |
4,515,295 | |||
Real Estate Management & Development - 0.2% | |||
Zillow Group, Inc. Class C (a) | 7,469 | 424,538 | |
TOTAL REAL ESTATE | 4,939,833 | ||
UTILITIES - 2.1% | |||
Electric Utilities - 1.6% | |||
Constellation Energy Corp. | 4,456 | 543,632 | |
Edison International | 7,360 | 496,653 | |
Exelon Corp. | 13,129 | 457,020 | |
PG&E Corp. | 30,555 | 515,463 | |
Pinnacle West Capital Corp. | 5,359 | 369,235 | |
Southern Co. | 9,720 | 675,734 | |
3,057,737 | |||
Gas Utilities - 0.2% | |||
Atmos Energy Corp. | 3,908 | 445,278 | |
Independent Power and Renewable Electricity Producers - 0.3% | |||
Vistra Corp. | 12,045 | 494,206 | |
TOTAL UTILITIES | 3,997,221 | ||
TOTAL COMMON STOCKS (Cost $158,251,288) | 190,078,878 | ||
Money Market Funds - 0.5% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (c) | 383,901 | 383,978 | |
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d) | 564,993 | 565,050 | |
TOTAL MONEY MARKET FUNDS (Cost $949,028) | 949,028 | ||
TOTAL INVESTMENT IN SECURITIES - 100.3% (Cost $159,200,316) | 191,027,906 |
NET OTHER ASSETS (LIABILITIES) - (0.3)% | (481,629) |
NET ASSETS - 100.0% | 190,546,277 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P 500 Index Contracts (United States) | 18 | Mar 2024 | 438,345 | 8,777 | 8,777 |
The notional amount of futures purchased as a percentage of Net Assets is 0.2% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 267,697 | 1,362,100 | 1,245,819 | 5,811 | - | - | 383,978 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 632,700 | 3,440,017 | 3,507,667 | 164 | - | - | 565,050 | 0.0% |
Total | 900,397 | 4,802,117 | 4,753,486 | 5,975 | - | - | 949,028 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 15,619,868 | 15,619,868 | - | - |
Consumer Discretionary | 19,992,016 | 19,992,016 | - | - |
Consumer Staples | 11,115,731 | 11,115,731 | - | - |
Energy | 7,247,927 | 7,247,927 | - | - |
Financials | 24,177,705 | 24,177,705 | - | - |
Health Care | 25,487,950 | 25,487,950 | - | - |
Industrials | 18,456,577 | 18,456,577 | - | - |
Information Technology | 54,294,909 | 54,294,909 | - | - |
Materials | 4,749,141 | 4,749,141 | - | - |
Real Estate | 4,939,833 | 4,939,833 | - | - |
Utilities | 3,997,221 | 3,997,221 | - | - |
Money Market Funds | 949,028 | 949,028 | - | - |
Total Investments in Securities: | 191,027,906 | 191,027,906 | - | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 8,777 | 8,777 | - | - |
Total Assets | 8,777 | 8,777 | - | - |
Total Derivative Instruments: | 8,777 | 8,777 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 8,777 | 0 |
Total Equity Risk | 8,777 | 0 |
Total Value of Derivatives | 8,777 | 0 |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $524,858) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $158,251,288) | $ | 190,078,878 | ||
Fidelity Central Funds (cost $949,028) | 949,028 | |||
Total Investment in Securities (cost $159,200,316) | $ | 191,027,906 | ||
Segregated cash with brokers for derivative instruments | 28,000 | |||
Cash | 40,952 | |||
Dividends receivable | 42,243 | |||
Distributions receivable from Fidelity Central Funds | 983 | |||
Total assets | 191,140,084 | |||
Liabilities | ||||
Accrued management fee | $ | 21,512 | ||
Payable for daily variation margin on futures contracts | 7,245 | |||
Collateral on securities loaned | 565,050 | |||
Total Liabilities | 593,807 | |||
Net Assets | $ | 190,546,277 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 187,118,831 | ||
Total accumulated earnings (loss) | 3,427,446 | |||
Net Assets | $ | 190,546,277 | ||
Net Asset Value, offering price and redemption price per share ($190,546,277 ÷ 3,500,000 shares) | $ | 54.44 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 785,860 | ||
Income from Fidelity Central Funds (including $164 from security lending) | 5,975 | |||
Total Income | 791,835 | |||
Expenses | ||||
Management fee | $ | 164,258 | ||
Independent trustees' fees and expenses | 427 | |||
Total expenses before reductions | 164,685 | |||
Expense reductions | (432) | |||
Total expenses after reductions | 164,253 | |||
Net Investment income (loss) | 627,582 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (317,996) | |||
Redemptions in-kind | 4,436,533 | |||
Futures contracts | 20,332 | |||
Total net realized gain (loss) | 4,138,869 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 11,737,989 | |||
Futures contracts | (6,207) | |||
Total change in net unrealized appreciation (depreciation) | 11,731,782 | |||
Net gain (loss) | 15,870,651 | |||
Net increase (decrease) in net assets resulting from operations | $ | 16,498,233 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 627,582 | $ | 1,464,341 |
Net realized gain (loss) | 4,138,869 | (2,793,086) | ||
Change in net unrealized appreciation (depreciation) | 11,731,782 | 13,280,212 | ||
Net increase (decrease) in net assets resulting from operations | 16,498,233 | 11,951,467 | ||
Distributions to shareholders | (599,450) | (1,506,200) | ||
Share transactions | ||||
Proceeds from sales of shares | 39,171,002 | 52,044,612 | ||
Cost of shares redeemed | (17,354,323) | (26,407,433) | ||
Net increase (decrease) in net assets resulting from share transactions | 21,816,679 | 25,637,179 | ||
Total increase (decrease) in net assets | 37,715,462 | 36,082,446 | ||
Net Assets | ||||
Beginning of period | 152,830,815 | 116,748,369 | ||
End of period | $ | 190,546,277 | $ | 152,830,815 |
Other Information | ||||
Shares | ||||
Sold | 750,000 | 1,150,000 | ||
Redeemed | (350,000) | (600,000) | ||
Net increase (decrease) | 400,000 | 550,000 | ||
Fidelity® Momentum Factor ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 49.30 | $ | 45.78 | $ | 49.77 | $ | 39.26 | $ | 35.80 | $ | 33.58 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .20 | .53 | .43 | .25 | .42 | .40 | ||||||
Net realized and unrealized gain (loss) | 5.14 | 3.53 | (4.01) | 10.54 | 3.47 | 2.22 | ||||||
Total from investment operations | 5.34 | 4.06 | (3.58) | 10.79 | 3.89 | 2.62 | ||||||
Distributions from net investment income | (.20) | (.54) | (.41) | (.28) | (.43) | (.40) | ||||||
Total distributions | (.20) | (.54) | (.41) | (.28) | (.43) | (.40) | ||||||
Net asset value, end of period | $ | 54.44 | $ | 49.30 | $ | 45.78 | $ | 49.77 | $ | 39.26 | $ | 35.80 |
Total Return C,D,E | 10.86% | 9.02% | (7.20)% | 27.58% | 11.06% | 7.91% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .22% H | .29% | .29% | .29% | .29% | .29% | ||||||
Expenses net of fee waivers, if any | .22% H | .29% | .29% | .29% | .29% | .29% | ||||||
Expenses net of all reductions | .22% H | .29% | .29% | .29% | .29% | .29% | ||||||
Net investment income (loss) | .82% H | 1.19% | .88% | .55% | 1.18% | 1.18% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 190,546 | $ | 152,831 | $ | 116,748 | $ | 156,764 | $ | 88,329 | $ | 121,736 |
Portfolio turnover rate I,J | 112% H | 137% | 123% | 128% | 138% | 133% |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 7.5 | |
Apple, Inc. | 6.8 | |
Alphabet, Inc. Class A | 3.8 | |
Meta Platforms, Inc. Class A | 2.2 | |
Eli Lilly & Co. | 2.1 | |
Broadcom, Inc. | 2.1 | |
UnitedHealth Group, Inc. | 1.8 | |
Visa, Inc. Class A | 1.7 | |
MasterCard, Inc. Class A | 1.6 | |
Tesla, Inc. | 1.5 | |
31.1 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 28.4 | |
Health Care | 13.6 | |
Financials | 13.5 | |
Consumer Discretionary | 9.8 | |
Industrials | 9.3 | |
Communication Services | 8.2 | |
Consumer Staples | 5.8 | |
Energy | 3.9 | |
Materials | 2.7 | |
Real Estate | 2.6 | |
Utilities | 2.0 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.2% |
Common Stocks - 99.8% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 8.2% | |||
Diversified Telecommunication Services - 1.3% | |||
AT&T, Inc. | 202,624 | 3,584,419 | |
Verizon Communications, Inc. | 102,140 | 4,325,629 | |
7,910,048 | |||
Interactive Media & Services - 6.0% | |||
Alphabet, Inc. Class A (a) | 162,434 | 22,757,003 | |
Meta Platforms, Inc. Class A | 34,901 | 13,616,276 | |
36,373,279 | |||
Media - 0.9% | |||
Comcast Corp. Class A | 89,520 | 4,166,261 | |
The Trade Desk, Inc. (a) | 23,529 | 1,610,089 | |
5,776,350 | |||
TOTAL COMMUNICATION SERVICES | 50,059,677 | ||
CONSUMER DISCRETIONARY - 9.8% | |||
Automobiles - 1.5% | |||
Tesla, Inc. (a) | 49,435 | 9,258,681 | |
Hotels, Restaurants & Leisure - 3.9% | |||
Airbnb, Inc. Class A (a) | 28,986 | 4,178,042 | |
Booking Holdings, Inc. (a) | 1,662 | 5,829,415 | |
Domino's Pizza, Inc. | 8,682 | 3,700,442 | |
McDonald's Corp. | 21,266 | 6,224,984 | |
Yum! Brands, Inc. | 28,088 | 3,637,115 | |
23,569,998 | |||
Specialty Retail - 3.6% | |||
AutoZone, Inc. (a) | 1,579 | 4,361,403 | |
Lowe's Companies, Inc. | 22,651 | 4,821,039 | |
O'Reilly Automotive, Inc. (a) | 4,365 | 4,465,613 | |
The Home Depot, Inc. | 23,790 | 8,396,918 | |
22,044,973 | |||
Textiles, Apparel & Luxury Goods - 0.8% | |||
NIKE, Inc. Class B | 47,100 | 4,782,063 | |
TOTAL CONSUMER DISCRETIONARY | 59,655,715 | ||
CONSUMER STAPLES - 5.8% | |||
Beverages - 1.3% | |||
Monster Beverage Corp. | 46,785 | 2,574,111 | |
The Coca-Cola Co. | 87,290 | 5,192,882 | |
7,766,993 | |||
Food Products - 0.4% | |||
The Hershey Co. | 11,135 | 2,155,068 | |
Household Products - 2.9% | |||
Church & Dwight Co., Inc. | 25,498 | 2,545,975 | |
Colgate-Palmolive Co. | 38,845 | 3,270,749 | |
Kimberly-Clark Corp. | 20,988 | 2,538,918 | |
Procter & Gamble Co. | 45,576 | 7,161,813 | |
The Clorox Co. | 14,376 | 2,088,114 | |
17,605,569 | |||
Personal Care Products - 0.1% | |||
Kenvue, Inc. | 35,600 | 739,056 | |
Tobacco - 1.1% | |||
Altria Group, Inc. | 71,940 | 2,886,233 | |
Philip Morris International, Inc. | 42,812 | 3,889,470 | |
6,775,703 | |||
TOTAL CONSUMER STAPLES | 35,042,389 | ||
ENERGY - 3.9% | |||
Oil, Gas & Consumable Fuels - 3.9% | |||
Antero Midstream GP LP | 98,028 | 1,199,863 | |
Cheniere Energy, Inc. | 10,009 | 1,641,376 | |
Chevron Corp. | 30,680 | 4,523,152 | |
ConocoPhillips Co. | 26,100 | 2,919,807 | |
Coterra Energy, Inc. | 50,179 | 1,248,454 | |
EOG Resources, Inc. | 16,356 | 1,861,149 | |
Exxon Mobil Corp. | 65,444 | 6,728,298 | |
Magnolia Oil & Gas Corp. Class A (b) | 50,176 | 1,034,629 | |
Marathon Oil Corp. | 51,232 | 1,170,651 | |
Texas Pacific Land Corp. | 768 | 1,122,301 | |
23,449,680 | |||
FINANCIALS - 13.5% | |||
Banks - 3.0% | |||
Cullen/Frost Bankers, Inc. | 37,611 | 3,991,279 | |
East West Bancorp, Inc. | 67,365 | 4,904,846 | |
First Citizens Bancshares, Inc. | 2,824 | 4,264,240 | |
Popular, Inc. | 55,377 | 4,731,965 | |
17,892,330 | |||
Capital Markets - 4.4% | |||
Ameriprise Financial, Inc. | 12,698 | 4,911,967 | |
Blackstone, Inc. | 48,370 | 6,019,647 | |
CME Group, Inc. | 24,504 | 5,043,903 | |
Moody's Corp. | 13,911 | 5,453,668 | |
MSCI, Inc. | 8,401 | 5,029,007 | |
26,458,192 | |||
Financial Services - 3.3% | |||
MasterCard, Inc. Class A | 21,526 | 9,670,125 | |
Visa, Inc. Class A | 38,720 | 10,580,627 | |
20,250,752 | |||
Insurance - 2.8% | |||
Aon PLC | 15,311 | 4,569,262 | |
Kinsale Capital Group, Inc. | 10,846 | 4,312,044 | |
Principal Financial Group, Inc. | 53,170 | 4,205,747 | |
RLI Corp. | 29,719 | 4,052,780 | |
17,139,833 | |||
TOTAL FINANCIALS | 81,741,107 | ||
HEALTH CARE - 13.6% | |||
Biotechnology - 5.0% | |||
AbbVie, Inc. | 52,538 | 8,637,247 | |
Amgen, Inc. | 25,684 | 8,071,454 | |
Regeneron Pharmaceuticals, Inc. (a) | 6,972 | 6,573,062 | |
Vertex Pharmaceuticals, Inc. (a) | 15,717 | 6,811,433 | |
30,093,196 | |||
Health Care Equipment & Supplies - 0.8% | |||
IDEXX Laboratories, Inc. (a) | 9,489 | 4,887,594 | |
Health Care Providers & Services - 1.8% | |||
UnitedHealth Group, Inc. | 21,105 | 10,800,273 | |
Life Sciences Tools & Services - 1.5% | |||
Medpace Holdings, Inc. (a) | 16,784 | 4,893,879 | |
Mettler-Toledo International, Inc. (a) | 3,644 | 4,362,560 | |
9,256,439 | |||
Pharmaceuticals - 4.5% | |||
Eli Lilly & Co. | 20,194 | 13,037,448 | |
Johnson & Johnson | 55,889 | 8,880,762 | |
Zoetis, Inc. Class A | 29,767 | 5,590,540 | |
27,508,750 | |||
TOTAL HEALTH CARE | 82,546,252 | ||
INDUSTRIALS - 9.3% | |||
Aerospace & Defense - 0.6% | |||
Lockheed Martin Corp. | 8,354 | 3,587,291 | |
Air Freight & Logistics - 1.0% | |||
Expeditors International of Washington, Inc. | 21,095 | 2,664,931 | |
United Parcel Service, Inc. Class B | 22,918 | 3,252,064 | |
5,916,995 | |||
Commercial Services & Supplies - 1.1% | |||
Cintas Corp. | 5,938 | 3,589,937 | |
Copart, Inc. | 64,673 | 3,106,891 | |
6,696,828 | |||
Electrical Equipment - 0.4% | |||
Atkore, Inc. | 15,849 | 2,417,448 | |
Ground Transportation - 1.8% | |||
CSX Corp. | 99,606 | 3,555,934 | |
Old Dominion Freight Lines, Inc. | 6,953 | 2,718,762 | |
Union Pacific Corp. | 18,604 | 4,538,074 | |
10,812,770 | |||
Machinery - 1.8% | |||
Caterpillar, Inc. | 15,433 | 4,634,684 | |
Illinois Tool Works, Inc. | 13,224 | 3,450,142 | |
Otis Worldwide Corp. | 32,031 | 2,832,822 | |
10,917,648 | |||
Professional Services - 1.5% | |||
Automatic Data Processing, Inc. | 15,172 | 3,728,974 | |
Paychex, Inc. | 23,350 | 2,842,396 | |
Verisk Analytics, Inc. | 12,241 | 2,956,569 | |
9,527,939 | |||
Trading Companies & Distributors - 1.1% | |||
Fastenal Co. | 49,353 | 3,367,355 | |
W.W. Grainger, Inc. | 3,880 | 3,475,083 | |
6,842,438 | |||
TOTAL INDUSTRIALS | 56,719,357 | ||
INFORMATION TECHNOLOGY - 28.4% | |||
Communications Equipment - 1.2% | |||
Cisco Systems, Inc. | 139,467 | 6,998,454 | |
IT Services - 2.1% | |||
Accenture PLC Class A | 22,624 | 8,232,421 | |
VeriSign, Inc. (a) | 22,584 | 4,491,506 | |
12,723,927 | |||
Semiconductors & Semiconductor Equipment - 6.1% | |||
Applied Materials, Inc. | 41,589 | 6,833,073 | |
Broadcom, Inc. | 10,707 | 12,634,260 | |
Lam Research Corp. | 8,241 | 6,800,226 | |
Microchip Technology, Inc. | 57,109 | 4,864,545 | |
Texas Instruments, Inc. | 38,244 | 6,123,629 | |
37,255,733 | |||
Software - 12.2% | |||
Adobe, Inc. (a) | 14,739 | 9,105,459 | |
Autodesk, Inc. (a) | 24,850 | 6,307,179 | |
Fair Isaac Corp. (a) | 5,535 | 6,635,524 | |
Microsoft Corp. | 115,016 | 45,728,066 | |
Qualys, Inc. (a) | 32,648 | 6,176,022 | |
73,952,250 | |||
Technology Hardware, Storage & Peripherals - 6.8% | |||
Apple, Inc. | 224,896 | 41,470,822 | |
TOTAL INFORMATION TECHNOLOGY | 172,401,186 | ||
MATERIALS - 2.7% | |||
Chemicals - 1.7% | |||
CF Industries Holdings, Inc. | 12,985 | 980,497 | |
Ecolab, Inc. | 8,001 | 1,585,958 | |
Linde PLC | 8,881 | 3,595,295 | |
LyondellBasell Industries NV Class A | 12,159 | 1,144,405 | |
Olin Corp. | 15,887 | 827,236 | |
Sherwin-Williams Co. | 6,271 | 1,908,767 | |
10,042,158 | |||
Construction Materials - 0.2% | |||
Eagle Materials, Inc. | 4,976 | 1,125,969 | |
Containers & Packaging - 0.2% | |||
Packaging Corp. of America | 6,630 | 1,099,784 | |
Metals & Mining - 0.6% | |||
Nucor Corp. | 8,309 | 1,553,201 | |
Reliance Steel & Aluminum Co. | 3,712 | 1,059,479 | |
Steel Dynamics, Inc. | 10,145 | 1,224,400 | |
3,837,080 | |||
TOTAL MATERIALS | 16,104,991 | ||
REAL ESTATE - 2.6% | |||
Equity Real Estate Investment Trusts (REITs) - 2.6% | |||
Alexandria Real Estate Equities, Inc. | 9,254 | 1,118,809 | |
AvalonBay Communities, Inc. | 6,653 | 1,190,954 | |
Equity Residential (SBI) | 17,943 | 1,079,989 | |
Essex Property Trust, Inc. | 4,436 | 1,034,786 | |
Extra Space Storage, Inc. | 9,119 | 1,317,148 | |
Gaming & Leisure Properties | 21,831 | 996,585 | |
Net Lease Office Properties | 1,061 | 26,292 | |
Prologis, Inc. | 19,621 | 2,485,784 | |
Public Storage | 5,189 | 1,469,473 | |
SBA Communications Corp. Class A | 5,386 | 1,205,710 | |
Simon Property Group, Inc. | 11,809 | 1,636,845 | |
VICI Properties, Inc. | 41,685 | 1,255,552 | |
WP Carey, Inc. | 15,933 | 987,209 | |
15,805,136 | |||
UTILITIES - 2.0% | |||
Electric Utilities - 0.8% | |||
FirstEnergy Corp. | 43,064 | 1,579,588 | |
Hawaiian Electric Industries, Inc. | 36,616 | 474,910 | |
NextEra Energy, Inc. | 46,496 | 2,726,060 | |
4,780,558 | |||
Gas Utilities - 0.4% | |||
National Fuel Gas Co. | 26,057 | 1,228,848 | |
ONE Gas, Inc. (b) | 17,730 | 1,088,090 | |
2,316,938 | |||
Independent Power and Renewable Electricity Producers - 0.3% | |||
Vistra Corp. | 52,200 | 2,141,766 | |
Multi-Utilities - 0.5% | |||
Public Service Enterprise Group, Inc. | 28,457 | 1,650,221 | |
WEC Energy Group, Inc. | 19,311 | 1,559,556 | |
3,209,777 | |||
TOTAL UTILITIES | 12,449,039 | ||
TOTAL COMMON STOCKS (Cost $556,846,460) | 605,974,529 | ||
Money Market Funds - 0.5% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (c) | 2,250,317 | 2,250,767 | |
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d) | 992,926 | 993,025 | |
TOTAL MONEY MARKET FUNDS (Cost $3,243,792) | 3,243,792 | ||
TOTAL INVESTMENT IN SECURITIES - 100.3% (Cost $560,090,252) | 609,218,321 |
NET OTHER ASSETS (LIABILITIES) - (0.3)% | (1,757,900) |
NET ASSETS - 100.0% | 607,460,421 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P 500 Index Contracts (United States) | 56 | Mar 2024 | 1,363,740 | 30,912 | 30,912 |
The notional amount of futures purchased as a percentage of Net Assets is 0.2% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 508,828 | 9,835,454 | 8,093,515 | 16,067 | - | - | 2,250,767 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 162,000 | 13,753,395 | 12,922,370 | 4,511 | - | - | 993,025 | 0.0% |
Total | 670,828 | 23,588,849 | 21,015,885 | 20,578 | - | - | 3,243,792 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 50,059,677 | 50,059,677 | - | - |
Consumer Discretionary | 59,655,715 | 59,655,715 | - | - |
Consumer Staples | 35,042,389 | 35,042,389 | - | - |
Energy | 23,449,680 | 23,449,680 | - | - |
Financials | 81,741,107 | 81,741,107 | - | - |
Health Care | 82,546,252 | 82,546,252 | - | - |
Industrials | 56,719,357 | 56,719,357 | - | - |
Information Technology | 172,401,186 | 172,401,186 | - | - |
Materials | 16,104,991 | 16,104,991 | - | - |
Real Estate | 15,805,136 | 15,805,136 | - | - |
Utilities | 12,449,039 | 12,449,039 | - | - |
Money Market Funds | 3,243,792 | 3,243,792 | - | - |
Total Investments in Securities: | 609,218,321 | 609,218,321 | - | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 30,912 | 30,912 | - | - |
Total Assets | 30,912 | 30,912 | - | - |
Total Derivative Instruments: | 30,912 | 30,912 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 30,912 | 0 |
Total Equity Risk | 30,912 | 0 |
Total Value of Derivatives | 30,912 | 0 |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $956,041) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $556,846,460) | $ | 605,974,529 | ||
Fidelity Central Funds (cost $3,243,792) | 3,243,792 | |||
Total Investment in Securities (cost $560,090,252) | $ | 609,218,321 | ||
Segregated cash with brokers for derivative instruments | 83,780 | |||
Cash | 1,499,707 | |||
Receivable for fund shares sold | 5,564,864 | |||
Dividends receivable | 372,921 | |||
Distributions receivable from Fidelity Central Funds | 4,597 | |||
Other receivables | 20 | |||
Total assets | 616,744,210 | |||
Liabilities | ||||
Payable for investments purchased | $ | 8,212,791 | ||
Accrued management fee | 55,433 | |||
Payable for daily variation margin on futures contracts | 22,540 | |||
Collateral on securities loaned | 993,025 | |||
Total Liabilities | 9,283,789 | |||
Net Assets | $ | 607,460,421 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 587,231,619 | ||
Total accumulated earnings (loss) | 20,228,802 | |||
Net Assets | $ | 607,460,421 | ||
Net Asset Value, offering price and redemption price per share ($607,460,421 ÷ 11,100,000 shares) | $ | 54.73 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 2,868,127 | ||
Income from Fidelity Central Funds (including $4,511 from security lending) | 20,578 | |||
Total Income | 2,888,705 | |||
Expenses | ||||
Management fee | $ | 374,129 | ||
Independent trustees' fees and expenses | 944 | |||
Total expenses before reductions | 375,073 | |||
Expense reductions | (239) | |||
Total expenses after reductions | 374,834 | |||
Net Investment income (loss) | 2,513,871 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (6,332,596) | |||
Redemptions in-kind | 1,026,844 | |||
Futures contracts | 56,097 | |||
Total net realized gain (loss) | (5,249,655) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 20,992,768 | |||
Futures contracts | (5,667) | |||
Total change in net unrealized appreciation (depreciation) | 20,987,101 | |||
Net gain (loss) | 15,737,446 | |||
Net increase (decrease) in net assets resulting from operations | $ | 18,251,317 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 2,513,871 | $ | 4,196,290 |
Net realized gain (loss) | (5,249,655) | 1,048,219 | ||
Change in net unrealized appreciation (depreciation) | 20,987,101 | 25,942,533 | ||
Net increase (decrease) in net assets resulting from operations | 18,251,317 | 31,187,042 | ||
Distributions to shareholders | (2,364,450) | (4,025,350) | ||
Share transactions | ||||
Proceeds from sales of shares | 269,658,325 | 68,034,031 | ||
Cost of shares redeemed | (4,927,310) | (35,066,993) | ||
Net increase (decrease) in net assets resulting from share transactions | 264,731,015 | 32,967,038 | ||
Total increase (decrease) in net assets | 280,617,882 | 60,128,730 | ||
Net Assets | ||||
Beginning of period | 326,842,539 | 266,713,809 | ||
End of period | $ | 607,460,421 | $ | 326,842,539 |
Other Information | ||||
Shares | ||||
Sold | 4,950,000 | 1,450,000 | ||
Redeemed | (100,000) | (750,000) | ||
Net increase (decrease) | 4,850,000 | 700,000 | ||
Fidelity® Quality Factor ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 52.29 | $ | 48.06 | $ | 51.19 | $ | 38.19 | $ | 35.28 | $ | 33.47 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .37 | .72 | .67 | .62 | .62 | .58 | ||||||
Net realized and unrealized gain (loss) | 2.43 | 4.20 | (3.10) | 13.00 | 2.90 | 1.77 | ||||||
Total from investment operations | 2.80 | 4.92 | (2.43) | 13.62 | 3.52 | 2.35 | ||||||
Distributions from net investment income | (.36) | (.69) | (.70) | (.62) | (.61) | (.54) | ||||||
Total distributions | (.36) | (.69) | (.70) | (.62) | (.61) | (.54) | ||||||
Net asset value, end of period | $ | 54.73 | $ | 52.29 | $ | 48.06 | $ | 51.19 | $ | 38.19 | $ | 35.28 |
Total Return C,D,E | 5.36% | 10.46% | (4.79)% | 36.00% | 10.26% | 7.14% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .21% H | .29% | .29% | .29% | .29% | .29% | ||||||
Expenses net of fee waivers, if any | .21% H | .29% | .29% | .29% | .29% | .29% | ||||||
Expenses net of all reductions | .21% H | .29% | .29% | .29% | .29% | .29% | ||||||
Net investment income (loss) | 1.43% H | 1.54% | 1.33% | 1.39% | 1.74% | 1.72% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 607,460 | $ | 326,843 | $ | 266,714 | $ | 245,721 | $ | 147,022 | $ | 162,282 |
Portfolio turnover rate I,J | 35% H | 43% | 38% | 35% | 41% | 29% |
Top Holdings (% of Fund's net assets) | ||
Super Micro Computer, Inc. | 0.6 | |
Builders FirstSource, Inc. | 0.5 | |
Deckers Outdoor Corp. | 0.5 | |
First Citizens Bancshares, Inc. | 0.4 | |
Booz Allen Hamilton Holding Corp. Class A | 0.4 | |
Hubbell, Inc. Class B | 0.4 | |
Jabil, Inc. | 0.4 | |
Neurocrine Biosciences, Inc. | 0.4 | |
Manhattan Associates, Inc. | 0.4 | |
Carlisle Companies, Inc. | 0.4 | |
4.4 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 20.6 | |
Financials | 16.8 | |
Consumer Discretionary | 14.5 | |
Information Technology | 12.0 | |
Health Care | 10.8 | |
Real Estate | 6.3 | |
Materials | 5.1 | |
Energy | 5.0 | |
Consumer Staples | 3.6 | |
Communication Services | 2.7 | |
Utilities | 2.4 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.1% |
Common Stocks - 99.8% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 2.7% | |||
Diversified Telecommunication Services - 0.4% | |||
Cogent Communications Group, Inc. | 3,960 | 305,712 | |
EchoStar Holding Corp. Class A (a)(b) | 9,520 | 127,473 | |
GCI Liberty, Inc. Class A (Escrow) (c) | 869 | 0 | |
Iridium Communications, Inc. | 6,711 | 243,341 | |
676,526 | |||
Entertainment - 0.4% | |||
Madison Square Garden Sports Corp. (a) | 1,251 | 231,560 | |
Playtika Holding Corp. (a) | 16,861 | 121,736 | |
TKO Group Holdings, Inc. | 2,725 | 228,055 | |
581,351 | |||
Interactive Media & Services - 0.5% | |||
Shutterstock, Inc. (b) | 4,417 | 207,466 | |
Yelp, Inc. (a) | 5,779 | 252,716 | |
Ziff Davis, Inc. (a) | 3,541 | 238,663 | |
698,845 | |||
Media - 1.3% | |||
Integral Ad Science Holding Corp. (a) | 9,860 | 143,463 | |
News Corp. Class A | 22,001 | 542,105 | |
Nexstar Media Group, Inc. Class A | 1,908 | 339,071 | |
Scholastic Corp. | 4,517 | 173,633 | |
TEGNA, Inc. | 15,662 | 244,171 | |
The New York Times Co. Class A | 8,522 | 413,828 | |
Thryv Holdings, Inc. (a) | 7,536 | 154,036 | |
2,010,307 | |||
Wireless Telecommunication Services - 0.1% | |||
Spok Holdings, Inc. | 12,732 | 210,842 | |
TOTAL COMMUNICATION SERVICES | 4,177,871 | ||
CONSUMER DISCRETIONARY - 14.5% | |||
Automobile Components - 1.2% | |||
Autoliv, Inc. | 3,429 | 367,314 | |
BorgWarner, Inc. | 9,654 | 327,271 | |
Dorman Products, Inc. (a) | 2,261 | 184,068 | |
Gentex Corp. | 10,367 | 343,459 | |
Lear Corp. | 2,478 | 329,326 | |
Patrick Industries, Inc. | 2,156 | 216,441 | |
Standard Motor Products, Inc. | 4,116 | 166,081 | |
1,933,960 | |||
Automobiles - 0.5% | |||
Harley-Davidson, Inc. | 7,172 | 232,731 | |
Thor Industries, Inc. | 2,637 | 298,034 | |
Winnebago Industries, Inc. | 2,810 | 184,673 | |
715,438 | |||
Broadline Retail - 0.1% | |||
Dillard's, Inc. Class A | 485 | 187,826 | |
Diversified Consumer Services - 1.8% | |||
Adtalem Global Education, Inc. (a) | 4,193 | 211,663 | |
Duolingo, Inc. (a) | 1,723 | 308,227 | |
Frontdoor, Inc. (a) | 5,827 | 190,893 | |
Graham Holdings Co. | 328 | 236,291 | |
Grand Canyon Education, Inc. (a) | 2,075 | 270,974 | |
H&R Block, Inc. | 8,070 | 377,999 | |
Perdoceo Education Corp. | 11,389 | 206,141 | |
Service Corp. International | 6,229 | 418,090 | |
Strategic Education, Inc. | 2,371 | 223,016 | |
Stride, Inc. (a) | 4,518 | 270,854 | |
2,714,148 | |||
Hotels, Restaurants & Leisure - 2.4% | |||
Bloomin' Brands, Inc. | 7,671 | 204,202 | |
Boyd Gaming Corp. | 4,079 | 258,976 | |
Choice Hotels International, Inc. (b) | 1,775 | 214,988 | |
Churchill Downs, Inc. | 2,928 | 354,200 | |
Chuy's Holdings, Inc. (a) | 3,870 | 130,845 | |
Hyatt Hotels Corp. Class A | 2,487 | 319,256 | |
Jack in the Box, Inc. | 1,969 | 153,523 | |
Monarch Casino & Resort, Inc. | 2,361 | 162,744 | |
Texas Roadhouse, Inc. Class A | 3,067 | 385,583 | |
Travel+Leisure Co. | 5,488 | 221,825 | |
Vail Resorts, Inc. | 1,688 | 374,736 | |
Wendy's Co. | 10,769 | 205,473 | |
Wingstop, Inc. | 1,629 | 457,928 | |
Wyndham Hotels & Resorts, Inc. | 4,123 | 321,305 | |
3,765,584 | |||
Household Durables - 3.3% | |||
Beazer Homes U.S.A., Inc. (a) | 4,842 | 153,734 | |
Cavco Industries, Inc. (a) | 702 | 233,008 | |
Century Communities, Inc. | 2,566 | 222,472 | |
Ethan Allen Interiors, Inc. (b) | 4,358 | 126,949 | |
Green Brick Partners, Inc. (a) | 3,323 | 173,361 | |
Installed Building Products, Inc. (b) | 1,526 | 297,341 | |
KB Home | 4,699 | 280,013 | |
La-Z-Boy, Inc. | 5,145 | 179,097 | |
M.D.C. Holdings, Inc. | 4,309 | 269,657 | |
M/I Homes, Inc. (a) | 2,169 | 276,374 | |
Meritage Homes Corp. | 1,928 | 319,296 | |
Mohawk Industries, Inc. (a) | 2,726 | 284,186 | |
Skyline Champion Corp. (a) | 3,493 | 239,201 | |
Taylor Morrison Home Corp. (a) | 5,816 | 303,246 | |
Tempur Sealy International, Inc. | 7,629 | 380,611 | |
Toll Brothers, Inc. | 4,541 | 451,148 | |
TopBuild Corp. (a) | 1,341 | 495,003 | |
TRI Pointe Homes, Inc. (a) | 7,112 | 245,577 | |
Worthington Enterprises, Inc. | 2,644 | 150,814 | |
5,081,088 | |||
Leisure Products - 0.7% | |||
Brunswick Corp. | 3,528 | 284,639 | |
Malibu Boats, Inc. Class A (a) | 2,961 | 123,622 | |
MasterCraft Boat Holdings, Inc. (a) | 5,196 | 100,647 | |
Polaris, Inc. | 2,474 | 222,561 | |
Sturm, Ruger & Co., Inc. | 2,896 | 126,439 | |
Vista Outdoor, Inc. (a) | 6,020 | 168,981 | |
1,026,889 | |||
Specialty Retail - 3.0% | |||
Abercrombie & Fitch Co. Class A (a) | 4,806 | 489,731 | |
Academy Sports & Outdoors, Inc. | 4,400 | 276,012 | |
Asbury Automotive Group, Inc. (a) | 1,185 | 247,736 | |
AutoNation, Inc. (a) | 1,698 | 237,143 | |
Dick's Sporting Goods, Inc. | 2,606 | 388,476 | |
Five Below, Inc. (a) | 2,201 | 394,991 | |
Group 1 Automotive, Inc. | 884 | 229,893 | |
Haverty Furniture Companies, Inc. | 4,292 | 145,499 | |
Murphy U.S.A., Inc. | 999 | 352,167 | |
Penske Automotive Group, Inc. | 1,430 | 212,169 | |
The Aaron's Co., Inc. | 11,032 | 113,519 | |
The Buckle, Inc. | 4,533 | 168,582 | |
Upbound Group, Inc. | 5,493 | 182,368 | |
Urban Outfitters, Inc. (a) | 5,238 | 199,044 | |
Valvoline, Inc. (a) | 7,461 | 272,252 | |
Williams-Sonoma, Inc. | 2,754 | 532,596 | |
Winmark Corp. | 448 | 161,580 | |
4,603,758 | |||
Textiles, Apparel & Luxury Goods - 1.5% | |||
Crocs, Inc. (a) | 2,997 | 304,136 | |
Deckers Outdoor Corp. (a) | 970 | 731,118 | |
Kontoor Brands, Inc. | 4,158 | 243,742 | |
Ralph Lauren Corp. | 2,135 | 306,735 | |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 6,177 | 385,692 | |
Tapestry, Inc. | 9,483 | 367,846 | |
2,339,269 | |||
TOTAL CONSUMER DISCRETIONARY | 22,367,960 | ||
CONSUMER STAPLES - 3.6% | |||
Beverages - 0.6% | |||
Coca-Cola Bottling Co. Consolidated | 330 | 284,259 | |
Molson Coors Beverage Co. Class B | 7,347 | 453,971 | |
The Vita Coco Co., Inc. (a) | 6,553 | 129,029 | |
867,259 | |||
Consumer Staples Distribution & Retail - 0.6% | |||
Casey's General Stores, Inc. | 1,613 | 437,704 | |
Ingles Markets, Inc. Class A | 2,112 | 177,936 | |
Sprouts Farmers Market LLC (a) | 6,579 | 331,384 | |
947,024 | |||
Food Products - 1.4% | |||
Cal-Maine Foods, Inc. (b) | 4,141 | 229,494 | |
Campbell Soup Co. | 8,699 | 388,236 | |
Flowers Foods, Inc. | 11,054 | 252,031 | |
Ingredion, Inc. | 3,114 | 334,973 | |
John B. Sanfilippo & Son, Inc. | 1,577 | 168,944 | |
Lancaster Colony Corp. | 1,290 | 237,076 | |
Seaboard Corp. | 45 | 162,135 | |
Sovos Brands, Inc. (a) | 9,312 | 205,330 | |
Tootsie Roll Industries, Inc. | 4,687 | 152,749 | |
2,130,968 | |||
Household Products - 0.2% | |||
WD-40 Co. (b) | 1,004 | 260,016 | |
Personal Care Products - 0.7% | |||
BellRing Brands, Inc. (a) | 7,742 | 427,900 | |
elf Beauty, Inc. (a) | 2,503 | 399,304 | |
Inter Parfums, Inc. | 1,485 | 206,638 | |
USANA Health Sciences, Inc. (a) | 2,495 | 116,816 | |
1,150,658 | |||
Tobacco - 0.1% | |||
Vector Group Ltd. | 14,538 | 152,213 | |
TOTAL CONSUMER STAPLES | 5,508,138 | ||
ENERGY - 5.0% | |||
Energy Equipment & Services - 0.9% | |||
Cactus, Inc. | 4,620 | 196,073 | |
Championx Corp. | 9,583 | 262,670 | |
TechnipFMC PLC | 20,214 | 390,939 | |
Tidewater, Inc. (a) | 3,635 | 244,236 | |
Weatherford International PLC (a) | 3,568 | 319,514 | |
1,413,432 | |||
Oil, Gas & Consumable Fuels - 4.1% | |||
Ardmore Shipping Corp. | 11,408 | 189,031 | |
California Resources Corp. | 4,795 | 228,626 | |
Chesapeake Energy Corp. (b) | 4,651 | 358,639 | |
Chord Energy Corp. | 2,115 | 325,202 | |
Civitas Resources, Inc. | 3,359 | 217,697 | |
CNX Resources Corp. (a) | 11,380 | 229,876 | |
CONSOL Energy, Inc. | 2,941 | 278,219 | |
Crescent Energy, Inc. Class A (b) | 13,326 | 147,252 | |
CVR Energy, Inc. (b) | 4,746 | 160,083 | |
Dorian LPG Ltd. (b) | 6,090 | 228,010 | |
DT Midstream, Inc. | 5,402 | 290,033 | |
Evolution Petroleum Corp. (b) | 15,558 | 87,280 | |
Gulfport Energy Corp. (a) | 1,731 | 219,664 | |
HF Sinclair Corp. | 6,274 | 354,418 | |
International Seaways, Inc. | 4,451 | 238,752 | |
Magnolia Oil & Gas Corp. Class A | 11,107 | 229,026 | |
Par Pacific Holdings, Inc. (a) | 6,068 | 222,028 | |
PBF Energy, Inc. Class A | 6,204 | 313,364 | |
Peabody Energy Corp. | 9,938 | 265,345 | |
Rex American Resources Corp. (a) | 4,344 | 179,798 | |
Scorpio Tankers, Inc. | 4,417 | 312,282 | |
Southwestern Energy Co. (a) | 52,490 | 338,561 | |
Teekay Corp. (a) | 23,869 | 214,582 | |
Teekay Tankers Ltd. | 3,948 | 246,947 | |
Texas Pacific Land Corp. | 259 | 378,484 | |
6,253,199 | |||
TOTAL ENERGY | 7,666,631 | ||
FINANCIALS - 16.8% | |||
Banks - 5.0% | |||
Amalgamated Financial Corp. | 7,840 | 208,230 | |
Associated Banc-Corp. | 11,939 | 250,838 | |
Axos Financial, Inc. (a) | 4,619 | 256,031 | |
Bancorp, Inc., Delaware (a) | 5,131 | 223,917 | |
Bank OZK | 6,331 | 285,591 | |
Cathay General Bancorp | 5,765 | 237,345 | |
City Holding Co. | 1,881 | 192,257 | |
East West Bancorp, Inc. | 6,287 | 457,756 | |
Enterprise Financial Services Corp. | 4,521 | 188,209 | |
Esquire Financial Holdings, Inc. (b) | 3,022 | 150,677 | |
First Citizens Bancshares, Inc. | 424 | 640,240 | |
First Commonwealth Financial Corp. | 12,878 | 180,421 | |
First Financial Corp., Indiana | 4,021 | 158,508 | |
FNB Corp., Pennsylvania | 21,097 | 278,058 | |
Fulton Financial Corp. | 14,465 | 225,509 | |
Hanmi Financial Corp. | 8,465 | 141,789 | |
HomeTrust Bancshares, Inc. | 6,286 | 170,665 | |
Independent Bank Corp. | 7,516 | 191,207 | |
International Bancshares Corp. | 4,364 | 230,681 | |
Midland States Bancorp, Inc. | 6,657 | 174,813 | |
New York Community Bancorp, Inc. | 30,284 | 195,937 | |
OFG Bancorp | 5,639 | 207,346 | |
Old Second Bancorp, Inc. | 9,775 | 133,136 | |
Pathward Financial, Inc. | 3,506 | 181,541 | |
Popular, Inc. | 3,952 | 337,698 | |
Preferred Bank, Los Angeles | 2,504 | 179,887 | |
S&T Bancorp, Inc. (b) | 5,566 | 185,570 | |
Synovus Financial Corp. | 8,375 | 315,403 | |
Trustco Bank Corp., New York | 5,204 | 150,396 | |
Univest Corp. of Pennsylvania | 8,129 | 172,660 | |
Webster Financial Corp. | 8,001 | 395,889 | |
WesBanco, Inc. | 6,914 | 202,857 | |
Westamerica Bancorp. | 3,645 | 173,939 | |
7,675,001 | |||
Capital Markets - 3.1% | |||
Affiliated Managers Group, Inc. | 2,044 | 304,229 | |
Artisan Partners Asset Management, Inc. | 5,645 | 236,526 | |
Assetmark Financial Holdings, Inc. (a) | 5,533 | 169,697 | |
BrightSphere Investment Group, Inc. | 8,012 | 177,225 | |
Evercore, Inc. Class A | 2,017 | 346,379 | |
Federated Hermes, Inc. | 6,631 | 231,820 | |
Franklin Resources, Inc. | 12,926 | 344,219 | |
GCM Grosvenor, Inc. Class A | 19,015 | 165,240 | |
Hamilton Lane, Inc. Class A | 2,577 | 298,777 | |
Houlihan Lokey | 2,824 | 338,259 | |
Interactive Brokers Group, Inc. | 4,415 | 391,831 | |
Janus Henderson Group PLC | 9,061 | 260,594 | |
Oppenheimer Holdings, Inc. Class A (non-vtg.) | 3,897 | 145,670 | |
SEI Investments Co. | 5,105 | 322,840 | |
Stifel Financial Corp. | 5,212 | 380,215 | |
Tradeweb Markets, Inc. Class A | 4,900 | 467,411 | |
Victory Capital Holdings, Inc. | 5,127 | 172,934 | |
4,753,866 | |||
Consumer Finance - 1.5% | |||
Ally Financial, Inc. | 13,342 | 489,385 | |
Bread Financial Holdings, Inc. (b) | 5,019 | 182,039 | |
Credit Acceptance Corp. (a)(b) | 456 | 246,728 | |
Enova International, Inc. (a) | 3,519 | 191,539 | |
FirstCash Holdings, Inc. | 2,456 | 281,875 | |
Green Dot Corp. Class A (a) | 8,797 | 79,261 | |
Navient Corp. | 10,555 | 181,757 | |
Nelnet, Inc. Class A | 1,915 | 166,854 | |
OneMain Holdings, Inc. | 6,477 | 308,305 | |
PROG Holdings, Inc. (a) | 4,992 | 152,955 | |
2,280,698 | |||
Financial Services - 2.1% | |||
A-Mark Precious Metals, Inc. (b) | 4,206 | 113,436 | |
Cass Information Systems, Inc. | 4,160 | 179,546 | |
Enact Holdings, Inc. | 5,826 | 165,983 | |
Essent Group Ltd. | 5,762 | 317,832 | |
Euronet Worldwide, Inc. (a) | 2,959 | 294,864 | |
EVERTEC, Inc. | 5,355 | 215,057 | |
Federal Agricultural Mortgage Corp. Class C (non-vtg.) | 1,119 | 208,459 | |
Jackson Financial, Inc. | 6,057 | 303,274 | |
MGIC Investment Corp. | 15,987 | 317,182 | |
NMI Holdings, Inc. (a) | 7,207 | 230,047 | |
Radian Group, Inc. | 9,518 | 275,832 | |
The Western Union Co. | 22,344 | 280,864 | |
Voya Financial, Inc. | 4,633 | 335,290 | |
3,237,666 | |||
Insurance - 5.1% | |||
American Equity Investment Life Holding Co. (a) | 4,454 | 245,905 | |
American Financial Group, Inc. | 3,186 | 383,594 | |
Amerisafe, Inc. | 3,190 | 158,990 | |
Assurant, Inc. | 2,488 | 417,860 | |
Axis Capital Holdings Ltd. | 4,652 | 276,887 | |
CNO Financial Group, Inc. | 8,887 | 241,549 | |
Employers Holdings, Inc. | 4,363 | 182,024 | |
Erie Indemnity Co. Class A | 1,224 | 423,296 | |
First American Financial Corp. | 5,179 | 312,553 | |
Genworth Financial, Inc. Class A (a) | 37,190 | 229,462 | |
Globe Life, Inc. | 3,700 | 454,434 | |
Hanover Insurance Group, Inc. | 2,262 | 298,607 | |
Kinsale Capital Group, Inc. | 979 | 389,221 | |
Loews Corp. | 7,441 | 542,151 | |
National Western Life Group, Inc. | 399 | 193,116 | |
Old Republic International Corp. | 12,623 | 353,949 | |
Primerica, Inc. | 1,664 | 389,642 | |
Reinsurance Group of America, Inc. | 2,847 | 495,065 | |
RenaissanceRe Holdings Ltd. | 2,118 | 484,662 | |
RLI Corp. | 2,160 | 294,559 | |
Selective Insurance Group, Inc. | 3,064 | 321,291 | |
Siriuspoint Ltd. (a) | 16,585 | 195,703 | |
Unum Group | 7,965 | 385,028 | |
White Mountains Insurance Group Ltd. | 160 | 252,155 | |
7,921,703 | |||
TOTAL FINANCIALS | 25,868,934 | ||
HEALTH CARE - 10.8% | |||
Biotechnology - 3.0% | |||
ACADIA Pharmaceuticals, Inc. (a) | 8,797 | 227,930 | |
ADMA Biologics, Inc. (a) | 41,891 | 217,414 | |
Akero Therapeutics, Inc. (a) | 4,437 | 95,884 | |
Alkermes PLC (a) | 9,989 | 270,202 | |
Arcellx, Inc. (a) | 5,208 | 322,063 | |
Catalyst Pharmaceutical Partners, Inc. (a) | 13,737 | 197,813 | |
Exelixis, Inc. (a) | 16,105 | 350,445 | |
Ironwood Pharmaceuticals, Inc. Class A (a) | 17,288 | 245,317 | |
Kiniksa Pharmaceuticals Ltd. (a) | 8,703 | 153,434 | |
Krystal Biotech, Inc. (a) | 1,793 | 199,471 | |
Morphic Holding, Inc. (a) | 3,601 | 114,116 | |
Mural Oncology PLC | 980 | 4,302 | |
Neurocrine Biosciences, Inc. (a) | 4,137 | 578,228 | |
Prothena Corp. PLC (a) | 3,381 | 95,987 | |
Repligen Corp. (a) | 2,312 | 437,893 | |
United Therapeutics Corp. (a) | 1,923 | 413,022 | |
Vaxcyte, Inc. (a) | 5,173 | 369,456 | |
Viking Therapeutics, Inc. (a) | 13,557 | 327,266 | |
4,620,243 | |||
Health Care Equipment & Supplies - 2.9% | |||
Atrion Corp. | 316 | 107,440 | |
CONMED Corp. | 2,154 | 205,922 | |
Dentsply Sirona, Inc. | 9,640 | 334,990 | |
Embecta Corp. | 8,610 | 147,575 | |
Envista Holdings Corp. (a) | 8,893 | 208,986 | |
Globus Medical, Inc. (a) | 4,797 | 253,234 | |
Haemonetics Corp. (a) | 3,002 | 229,533 | |
ICU Medical, Inc. (a) | 1,440 | 131,803 | |
Inspire Medical Systems, Inc. (a) | 1,329 | 280,246 | |
Integer Holdings Corp. (a) | 2,574 | 260,798 | |
Integra LifeSciences Holdings Corp. (a) | 5,279 | 211,952 | |
Lantheus Holdings, Inc. (a) | 3,929 | 204,033 | |
LeMaitre Vascular, Inc. | 3,129 | 181,607 | |
Masimo Corp. (a) | 2,598 | 334,986 | |
Merit Medical Systems, Inc. (a) | 3,656 | 286,265 | |
Neogen Corp. (a) | 12,614 | 195,517 | |
Penumbra, Inc. (a) | 1,640 | 413,592 | |
QuidelOrtho Corp. (a) | 3,290 | 225,398 | |
Tactile Systems Technology, Inc. (a) | 7,331 | 111,211 | |
UFP Technologies, Inc. (a) | 997 | 168,004 | |
4,493,092 | |||
Health Care Providers & Services - 2.8% | |||
Addus HomeCare Corp. (a) | 2,032 | 175,971 | |
Amedisys, Inc. (a) | 2,503 | 235,958 | |
AMN Healthcare Services, Inc. (a) | 2,558 | 189,318 | |
Chemed Corp. | 706 | 418,510 | |
Corvel Corp. (a) | 961 | 226,162 | |
Cross Country Healthcare, Inc. (a) | 7,745 | 164,581 | |
DaVita, Inc. (a) | 2,999 | 324,372 | |
Encompass Health Corp. | 4,851 | 344,615 | |
Henry Schein, Inc. (a) | 5,519 | 413,042 | |
National Healthcare Corp. (b) | 2,871 | 267,118 | |
National Research Corp. Class A | 3,884 | 153,030 | |
Premier, Inc. | 8,643 | 186,862 | |
Select Medical Holdings Corp. | 7,729 | 200,877 | |
The Ensign Group, Inc. | 3,056 | 346,000 | |
U.S. Physical Therapy, Inc. | 1,669 | 153,982 | |
Universal Health Services, Inc. Class B | 2,835 | 450,226 | |
4,250,624 | |||
Health Care Technology - 0.4% | |||
Computer Programs & Systems, Inc. (a) | 6,079 | 61,580 | |
Doximity, Inc. (a) | 7,784 | 209,779 | |
HealthStream, Inc. | 7,132 | 189,854 | |
Simulations Plus, Inc. (b) | 3,492 | 132,347 | |
593,560 | |||
Life Sciences Tools & Services - 0.7% | |||
Bio-Rad Laboratories, Inc. Class A (a) | 957 | 307,092 | |
Bruker Corp. | 4,974 | 355,691 | |
Maravai LifeSciences Holdings, Inc. (a) | 15,399 | 89,314 | |
Medpace Holdings, Inc. (a) | 1,259 | 367,099 | |
1,119,196 | |||
Pharmaceuticals - 1.0% | |||
Amphastar Pharmaceuticals, Inc. (a) | 3,407 | 181,798 | |
ANI Pharmaceuticals, Inc. (a) | 3,232 | 180,410 | |
Assertio Holdings, Inc. (a) | 29,643 | 26,163 | |
Corcept Therapeutics, Inc. (a) | 7,245 | 152,870 | |
Innoviva, Inc. (a) | 12,993 | 210,487 | |
Organon & Co. | 13,969 | 232,584 | |
Phibro Animal Health Corp. Class A | 10,633 | 114,943 | |
Prestige Brands Holdings, Inc. (a) | 3,596 | 221,298 | |
Supernus Pharmaceuticals, Inc. (a) | 6,180 | 171,062 | |
1,491,615 | |||
TOTAL HEALTH CARE | 16,568,330 | ||
INDUSTRIALS - 20.6% | |||
Aerospace & Defense - 1.4% | |||
AAR Corp. (a) | 2,567 | 156,125 | |
BWX Technologies, Inc. | 3,908 | 318,424 | |
Curtiss-Wright Corp. | 1,540 | 342,758 | |
Hexcel Corp. | 3,749 | 248,896 | |
Huntington Ingalls Industries, Inc. | 1,531 | 396,407 | |
Moog, Inc. Class A | 1,680 | 234,864 | |
National Presto Industries, Inc. | 1,362 | 107,830 | |
Woodward, Inc. | 2,425 | 334,092 | |
2,139,396 | |||
Air Freight & Logistics - 0.2% | |||
Forward Air Corp. | 1,591 | 70,529 | |
Hub Group, Inc. Class A (a) | 4,014 | 181,754 | |
252,283 | |||
Building Products - 3.3% | |||
A.O. Smith Corp. | 4,749 | 368,570 | |
AAON, Inc. | 3,183 | 223,319 | |
Allegion PLC | 3,292 | 407,846 | |
Builders FirstSource, Inc. (a) | 4,221 | 733,314 | |
Carlisle Companies, Inc. | 1,754 | 551,212 | |
CSW Industrials, Inc. | 952 | 201,415 | |
Fortune Brands Innovations, Inc. | 4,904 | 380,501 | |
Gibraltar Industries, Inc. (a) | 2,197 | 177,781 | |
Lennox International, Inc. | 1,150 | 492,384 | |
Masonite International Corp. (a) | 1,579 | 145,347 | |
Owens Corning | 3,183 | 482,320 | |
PGT Innovations, Inc. (a) | 5,332 | 219,785 | |
Simpson Manufacturing Co. Ltd. | 1,823 | 329,945 | |
Tecnoglass, Inc. | 2,677 | 123,169 | |
UFP Industries, Inc. | 2,671 | 303,025 | |
5,139,933 | |||
Commercial Services & Supplies - 1.4% | |||
Brady Corp. Class A | 3,168 | 190,809 | |
Clean Harbors, Inc. (a) | 1,967 | 330,377 | |
CoreCivic, Inc. (a) | 13,336 | 189,638 | |
Ennis, Inc. | 5,212 | 106,168 | |
MSA Safety, Inc. | 1,560 | 257,447 | |
Rollins, Inc. | 8,781 | 380,305 | |
Tetra Tech, Inc. | 2,038 | 322,371 | |
The Brink's Co. | 2,619 | 211,720 | |
The GEO Group, Inc. (a) | 16,928 | 188,239 | |
2,177,074 | |||
Construction & Engineering - 1.7% | |||
AECOM | 4,953 | 436,805 | |
API Group Corp. (a) | 8,989 | 283,333 | |
Arcosa, Inc. | 2,607 | 204,076 | |
Comfort Systems U.S.A., Inc. | 1,538 | 334,469 | |
EMCOR Group, Inc. | 1,760 | 401,474 | |
MasTec, Inc. (a) | 2,451 | 160,957 | |
MDU Resources Group, Inc. | 10,055 | 196,173 | |
MYR Group, Inc. (a) | 1,140 | 163,989 | |
Sterling Construction Co., Inc. (a) | 2,437 | 183,019 | |
Valmont Industries, Inc. | 963 | 217,359 | |
2,581,654 | |||
Electrical Equipment - 1.9% | |||
Acuity Brands, Inc. | 1,462 | 348,190 | |
Atkore, Inc. | 1,709 | 260,674 | |
Encore Wire Corp. | 1,086 | 244,893 | |
EnerSys | 2,046 | 195,536 | |
Hubbell, Inc. Class B | 1,791 | 601,006 | |
nVent Electric PLC | 6,323 | 379,633 | |
Powell Industries, Inc. | 1,443 | 171,039 | |
Regal Rexnord Corp. | 2,431 | 324,441 | |
Sensata Technologies, Inc. PLC | 6,538 | 236,479 | |
Thermon Group Holdings, Inc. (a) | 4,630 | 151,771 | |
2,913,662 | |||
Ground Transportation - 0.8% | |||
Knight-Swift Transportation Holdings, Inc. Class A | 6,005 | 344,567 | |
Landstar System, Inc. | 1,484 | 284,512 | |
Saia, Inc. (a) | 962 | 433,458 | |
Schneider National, Inc. Class B | 4,074 | 99,894 | |
Werner Enterprises, Inc. | 3,659 | 144,713 | |
1,307,144 | |||
Machinery - 5.2% | |||
AGCO Corp. | 2,473 | 302,522 | |
Alamo Group, Inc. | 817 | 173,433 | |
Albany International Corp. Class A | 1,867 | 165,995 | |
Allison Transmission Holdings, Inc. | 4,168 | 252,331 | |
Barnes Group, Inc. | 3,916 | 129,659 | |
Donaldson Co., Inc. | 4,895 | 316,168 | |
ESAB Corp. | 2,776 | 238,708 | |
ESCO Technologies, Inc. | 1,694 | 172,568 | |
Federal Signal Corp. | 3,313 | 255,035 | |
Flowserve Corp. | 6,091 | 243,214 | |
Franklin Electric Co., Inc. | 2,082 | 196,249 | |
Graco, Inc. | 5,908 | 503,952 | |
ITT, Inc. | 3,236 | 390,844 | |
Kadant, Inc. | 789 | 225,654 | |
Lincoln Electric Holdings, Inc. | 2,080 | 462,218 | |
Middleby Corp. (a) | 2,167 | 305,699 | |
Mueller Industries, Inc. | 5,697 | 273,456 | |
Mueller Water Products, Inc. Class A | 10,369 | 142,159 | |
Nordson Corp. | 1,867 | 469,961 | |
Pentair PLC | 5,937 | 434,410 | |
Snap-On, Inc. | 1,817 | 526,803 | |
SPX Technologies, Inc. (a) | 2,357 | 237,208 | |
Standex International Corp. | 990 | 146,183 | |
Tennant Co. | 1,699 | 160,589 | |
Terex Corp. | 3,409 | 209,415 | |
Timken Co. | 2,981 | 244,174 | |
Toro Co. | 3,835 | 354,661 | |
Wabash National Corp. | 5,369 | 135,836 | |
Watts Water Technologies, Inc. Class A | 1,283 | 254,047 | |
7,923,151 | |||
Marine Transportation - 0.1% | |||
Matson, Inc. | 2,031 | 227,533 | |
Professional Services - 2.8% | |||
Booz Allen Hamilton Holding Corp. Class A | 4,428 | 623,330 | |
CACI International, Inc. Class A (a) | 898 | 308,670 | |
CBIZ, Inc. (a) | 3,157 | 200,975 | |
Concentrix Corp. | 2,391 | 212,488 | |
Exponent, Inc. | 2,503 | 220,740 | |
FTI Consulting, Inc. (a) | 1,470 | 281,667 | |
Heidrick & Struggles International, Inc. | 4,019 | 120,449 | |
Huron Consulting Group, Inc. (a) | 1,479 | 153,121 | |
ICF International, Inc. | 1,268 | 176,303 | |
Insperity, Inc. | 2,010 | 230,527 | |
KBR, Inc. | 5,323 | 277,382 | |
Kforce, Inc. | 2,148 | 146,816 | |
Manpower, Inc. | 2,614 | 193,802 | |
Maximus, Inc. | 2,898 | 235,086 | |
Resources Connection, Inc. (b) | 7,023 | 94,530 | |
Robert Half, Inc. | 4,260 | 338,840 | |
Science Applications International Corp. | 2,279 | 290,937 | |
TriNet Group, Inc. (a) | 1,923 | 218,645 | |
4,324,308 | |||
Trading Companies & Distributors - 1.8% | |||
Applied Industrial Technologies, Inc. | 1,754 | 309,511 | |
BlueLinx Corp. (a) | 1,381 | 159,285 | |
Boise Cascade Co. | 1,997 | 270,514 | |
Core & Main, Inc. (a) | 5,560 | 229,684 | |
GMS, Inc. (a) | 2,443 | 205,603 | |
McGrath RentCorp. | 1,701 | 213,731 | |
MSC Industrial Direct Co., Inc. Class A | 2,300 | 226,964 | |
Rush Enterprises, Inc. Class A | 3,988 | 179,101 | |
SiteOne Landscape Supply, Inc. (a) | 1,838 | 284,063 | |
Textainer Group Holdings Ltd. | 3,374 | 167,519 | |
Watsco, Inc. | 1,199 | 468,785 | |
2,714,760 | |||
TOTAL INDUSTRIALS | 31,700,898 | ||
INFORMATION TECHNOLOGY - 12.0% | |||
Communications Equipment - 0.8% | |||
Ciena Corp. (a) | 7,039 | 373,067 | |
Harmonic, Inc. (a) | 14,273 | 166,994 | |
Juniper Networks, Inc. | 13,151 | 486,061 | |
NetScout Systems, Inc. (a) | 6,154 | 132,373 | |
1,158,495 | |||
Electronic Equipment, Instruments & Components - 3.5% | |||
Advanced Energy Industries, Inc. | 2,028 | 211,277 | |
Arrow Electronics, Inc. (a) | 2,501 | 277,986 | |
Avnet, Inc. | 5,138 | 232,751 | |
Badger Meter, Inc. | 1,541 | 221,889 | |
Bel Fuse, Inc. Class B (non-vtg.) | 2,716 | 181,592 | |
Belden, Inc. | 2,544 | 188,714 | |
Cognex Corp. | 7,135 | 257,859 | |
CTS Corp. | 3,544 | 145,517 | |
ePlus, Inc. (a) | 2,819 | 212,947 | |
Fabrinet (a) | 1,997 | 426,379 | |
Insight Enterprises, Inc. (a) | 1,667 | 307,962 | |
IPG Photonics Corp. (a) | 1,958 | 191,669 | |
Jabil, Inc. | 4,784 | 599,387 | |
Littelfuse, Inc. | 1,154 | 279,153 | |
Methode Electronics, Inc. Class A | 4,631 | 96,140 | |
Novanta, Inc. (a) | 1,679 | 259,489 | |
OSI Systems, Inc. (a) | 1,448 | 185,387 | |
PC Connection, Inc. | 2,644 | 170,564 | |
Plexus Corp. (a) | 2,001 | 189,535 | |
Sanmina Corp. (a) | 3,797 | 227,137 | |
Vishay Intertechnology, Inc. | 7,873 | 171,080 | |
Vishay Precision Group, Inc. (a) | 3,545 | 113,015 | |
Vontier Corp. | 8,305 | 287,270 | |
5,434,699 | |||
IT Services - 0.5% | |||
Amdocs Ltd. | 4,682 | 429,246 | |
DXC Technology Co. (a) | 12,585 | 274,353 | |
Hackett Group, Inc. | 5,817 | 134,489 | |
838,088 | |||
Semiconductors & Semiconductor Equipment - 2.1% | |||
Allegro MicroSystems LLC (a) | 4,608 | 119,532 | |
Amkor Technology, Inc. | 7,059 | 223,488 | |
Axcelis Technologies, Inc. (a) | 1,550 | 201,578 | |
Cirrus Logic, Inc. (a) | 3,064 | 236,541 | |
Diodes, Inc. (a) | 2,628 | 176,917 | |
Kulicke & Soffa Industries, Inc. | 3,744 | 188,398 | |
Lattice Semiconductor Corp. (a) | 5,144 | 313,064 | |
NVE Corp. | 1,653 | 132,223 | |
Onto Innovation, Inc. (a) | 2,378 | 384,047 | |
PDF Solutions, Inc. (a) | 3,623 | 113,038 | |
Photronics, Inc. (a) | 6,419 | 187,563 | |
Power Integrations, Inc. | 2,933 | 219,858 | |
Rambus, Inc. (a) | 5,289 | 362,455 | |
Universal Display Corp. | 2,088 | 354,480 | |
3,213,182 | |||
Software - 4.2% | |||
ACI Worldwide, Inc. (a) | 8,080 | 242,966 | |
Adeia, Inc. | 13,040 | 158,306 | |
Agilysys, Inc. (a) | 2,209 | 184,915 | |
Altair Engineering, Inc. Class A (a) | 3,186 | 270,874 | |
AppFolio, Inc. (a) | 1,226 | 268,813 | |
Aspen Technology, Inc. (a) | 1,425 | 273,586 | |
Bentley Systems, Inc. Class B | 7,881 | 397,202 | |
Blackbaud, Inc. (a) | 2,899 | 234,587 | |
BlackLine, Inc. (a) | 3,768 | 221,106 | |
Box, Inc. Class A (a) | 7,965 | 206,931 | |
CommVault Systems, Inc. (a) | 2,908 | 266,605 | |
Dolby Laboratories, Inc. Class A | 3,029 | 251,952 | |
DoubleVerify Holdings, Inc. (a) | 6,001 | 240,100 | |
Dropbox, Inc. Class A (a) | 12,136 | 384,468 | |
Dynatrace, Inc. (a) | 8,564 | 488,148 | |
Intapp, Inc. (a) | 3,853 | 165,987 | |
InterDigital, Inc. (b) | 2,123 | 223,021 | |
Manhattan Associates, Inc. (a) | 2,380 | 577,293 | |
Progress Software Corp. | 3,163 | 179,690 | |
Qualys, Inc. (a) | 1,822 | 344,668 | |
SPS Commerce, Inc. (a) | 1,742 | 320,180 | |
Teradata Corp. (a) | 4,951 | 228,637 | |
Workiva, Inc. (a) | 2,454 | 228,075 | |
Yext, Inc. (a) | 15,711 | 93,166 | |
6,451,276 | |||
Technology Hardware, Storage & Peripherals - 0.9% | |||
Pure Storage, Inc. Class A (a) | 11,198 | 447,808 | |
Super Micro Computer, Inc. (a) | 1,642 | 869,609 | |
1,317,417 | |||
TOTAL INFORMATION TECHNOLOGY | 18,413,157 | ||
MATERIALS - 5.1% | |||
Chemicals - 1.9% | |||
Axalta Coating Systems Ltd. (a) | 10,635 | 344,787 | |
Balchem Corp. | 1,879 | 263,361 | |
Hawkins, Inc. | 3,204 | 213,290 | |
Innospec, Inc. | 1,916 | 222,467 | |
Minerals Technologies, Inc. | 3,101 | 202,650 | |
NewMarket Corp. | 471 | 262,729 | |
Olin Corp. | 5,551 | 289,041 | |
Orion SA | 7,724 | 173,018 | |
RPM International, Inc. | 4,825 | 514,635 | |
Sensient Technologies Corp. | 3,275 | 203,148 | |
Westlake Corp. | 1,942 | 268,676 | |
2,957,802 | |||
Construction Materials - 0.2% | |||
Eagle Materials, Inc. | 1,698 | 384,223 | |
Containers & Packaging - 1.2% | |||
Aptargroup, Inc. | 2,873 | 373,145 | |
Berry Global Group, Inc. | 5,399 | 353,419 | |
Graphic Packaging Holding Co. | 14,237 | 363,186 | |
Greif, Inc. Class A | 2,623 | 164,226 | |
Silgan Holdings, Inc. | 5,317 | 244,263 | |
Sonoco Products Co. | 4,978 | 283,248 | |
1,781,487 | |||
Metals & Mining - 1.5% | |||
Alpha Metallurgical Resources | 1,158 | 462,320 | |
Arch Resources, Inc. | 1,531 | 270,926 | |
ATI, Inc. (a) | 6,519 | 266,432 | |
Commercial Metals Co. | 5,536 | 289,090 | |
Materion Corp. | 1,836 | 214,757 | |
Royal Gold, Inc. | 2,979 | 340,768 | |
Warrior Metropolitan Coal, Inc. | 4,884 | 313,406 | |
Worthington Steel, Inc. | 2,644 | 79,188 | |
2,236,887 | |||
Paper & Forest Products - 0.3% | |||
Louisiana-Pacific Corp. | 3,989 | 265,468 | |
Sylvamo Corp. | 3,661 | 169,980 | |
435,448 | |||
TOTAL MATERIALS | 7,795,847 | ||
REAL ESTATE - 6.3% | |||
Equity Real Estate Investment Trusts (REITs) - 5.9% | |||
Agree Realty Corp. | 4,300 | 256,323 | |
American Homes 4 Rent Class A | 11,729 | 411,101 | |
Apartment Income (REIT) Corp. | 7,427 | 242,789 | |
Apartment Investment & Management Co. Class A (a) | 17,229 | 128,011 | |
Armada Hoffler Properties, Inc. | 11,117 | 132,959 | |
Brixmor Property Group, Inc. | 13,244 | 297,195 | |
Broadstone Net Lease, Inc. | 11,889 | 191,056 | |
Camden Property Trust (SBI) | 3,980 | 373,483 | |
COPT Defense Properties (SBI) | 7,370 | 173,637 | |
Cousins Properties, Inc. | 9,092 | 208,298 | |
CubeSmart | 8,765 | 378,823 | |
EastGroup Properties, Inc. | 1,862 | 330,375 | |
EPR Properties | 4,619 | 204,483 | |
Equity Commonwealth | 8,634 | 164,996 | |
Equity Lifestyle Properties, Inc. | 6,344 | 429,425 | |
Essential Properties Realty Trust, Inc. | 8,838 | 220,155 | |
Federal Realty Investment Trust (SBI) | 3,108 | 316,177 | |
First Industrial Realty Trust, Inc. | 5,832 | 300,465 | |
Four Corners Property Trust, Inc. | 6,768 | 158,439 | |
Getty Realty Corp. | 4,715 | 130,417 | |
Highwoods Properties, Inc. (SBI) | 7,537 | 173,125 | |
Independence Realty Trust, Inc. | 12,923 | 189,839 | |
Kimco Realty Corp. | 22,560 | 455,712 | |
Lamar Advertising Co. Class A | 3,590 | 375,801 | |
LXP Industrial Trust (REIT) | 19,366 | 176,037 | |
Medical Properties Trust, Inc. (b) | 27,577 | 85,489 | |
National Health Investors, Inc. | 3,148 | 167,411 | |
NNN (REIT), Inc. | 7,743 | 312,353 | |
Omega Healthcare Investors, Inc. | 9,865 | 286,085 | |
Physicians Realty Trust | 14,224 | 174,102 | |
Piedmont Office Realty Trust, Inc. Class A | 18,707 | 127,208 | |
Potlatch Corp. | 4,344 | 194,307 | |
Regency Centers Corp. | 5,956 | 373,263 | |
Rexford Industrial Realty, Inc. | 7,620 | 400,736 | |
Stag Industrial, Inc. | 8,124 | 300,101 | |
Terreno Realty Corp. | 3,910 | 233,544 | |
9,073,720 | |||
Real Estate Management & Development - 0.4% | |||
Forestar Group, Inc. (a) | 3,981 | 124,446 | |
The RMR Group, Inc. | 5,032 | 131,285 | |
Zillow Group, Inc. Class C (a) | 7,896 | 448,809 | |
704,540 | |||
TOTAL REAL ESTATE | 9,778,260 | ||
UTILITIES - 2.4% | |||
Electric Utilities - 1.1% | |||
Allete, Inc. | 3,818 | 225,682 | |
Hawaiian Electric Industries, Inc. | 6,378 | 82,723 | |
IDACORP, Inc. | 2,647 | 245,059 | |
OGE Energy Corp. | 9,059 | 301,121 | |
Otter Tail Corp. | 2,553 | 230,842 | |
Pinnacle West Capital Corp. | 4,696 | 323,554 | |
Portland General Electric Co. | 5,372 | 219,876 | |
1,628,857 | |||
Gas Utilities - 0.5% | |||
Chesapeake Utilities Corp. | 1,587 | 160,731 | |
National Fuel Gas Co. | 4,850 | 228,726 | |
New Jersey Resources Corp. | 5,501 | 224,606 | |
ONE Gas, Inc. (b) | 3,142 | 192,825 | |
806,888 | |||
Independent Power and Renewable Electricity Producers - 0.1% | |||
Clearway Energy, Inc. Class C | 8,282 | 200,756 | |
Multi-Utilities - 0.5% | |||
Avista Corp. | 5,422 | 184,402 | |
NiSource, Inc. | 16,159 | 419,649 | |
NorthWestern Energy Corp. | 3,942 | 189,689 | |
793,740 | |||
Water Utilities - 0.2% | |||
Consolidated Water Co., Inc. (b) | 6,949 | 221,882 | |
TOTAL UTILITIES | 3,652,123 | ||
TOTAL COMMON STOCKS (Cost $138,722,936) | 153,498,149 | ||
Money Market Funds - 2.4% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (d) | 177,388 | 177,423 | |
Fidelity Securities Lending Cash Central Fund 5.39% (d)(e) | 3,436,004 | 3,436,347 | |
TOTAL MONEY MARKET FUNDS (Cost $3,613,770) | 3,613,770 | ||
TOTAL INVESTMENT IN SECURITIES - 102.2% (Cost $142,336,706) | 157,111,919 |
NET OTHER ASSETS (LIABILITIES) - (2.2)% | (3,326,824) |
NET ASSETS - 100.0% | 153,785,095 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini Russell 2000 Index Contracts (United States) | 2 | Mar 2024 | 195,590 | 2,001 | 2,001 |
The notional amount of futures purchased as a percentage of Net Assets is 0.1% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Level 3 security |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(e) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 217,417 | 2,490,504 | 2,530,498 | 4,079 | - | - | 177,423 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 4,432,050 | 11,315,198 | 12,310,901 | 2,964 | - | - | 3,436,347 | 0.0% |
Total | 4,649,467 | 13,805,702 | 14,841,399 | 7,043 | - | - | 3,613,770 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 4,177,871 | 4,177,871 | - | - |
Consumer Discretionary | 22,367,960 | 22,367,960 | - | - |
Consumer Staples | 5,508,138 | 5,508,138 | - | - |
Energy | 7,666,631 | 7,666,631 | - | - |
Financials | 25,868,934 | 25,868,934 | - | - |
Health Care | 16,568,330 | 16,568,330 | - | - |
Industrials | 31,700,898 | 31,700,898 | - | - |
Information Technology | 18,413,157 | 18,413,157 | - | - |
Materials | 7,795,847 | 7,795,847 | - | - |
Real Estate | 9,778,260 | 9,778,260 | - | - |
Utilities | 3,652,123 | 3,652,123 | - | - |
Money Market Funds | 3,613,770 | 3,613,770 | - | - |
Total Investments in Securities: | 157,111,919 | 157,111,919 | - | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 2,001 | 2,001 | - | - |
Total Assets | 2,001 | 2,001 | - | - |
Total Derivative Instruments: | 2,001 | 2,001 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 2,001 | 0 |
Total Equity Risk | 2,001 | 0 |
Total Value of Derivatives | 2,001 | 0 |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $3,272,517) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $138,722,936) | $ | 153,498,149 | ||
Fidelity Central Funds (cost $3,613,770) | 3,613,770 | |||
Total Investment in Securities (cost $142,336,706) | $ | 157,111,919 | ||
Segregated cash with brokers for derivative instruments | 37,200 | |||
Cash | 44,185 | |||
Foreign currency held at value (cost $1,224) | 1,174 | |||
Dividends receivable | 45,891 | |||
Distributions receivable from Fidelity Central Funds | 976 | |||
Other receivables | 1,096 | |||
Total assets | 157,242,441 | |||
Liabilities | ||||
Accrued management fee | $ | 18,748 | ||
Payable for daily variation margin on futures contracts | 2,250 | |||
Collateral on securities loaned | 3,436,348 | |||
Total Liabilities | 3,457,346 | |||
Net Assets | $ | 153,785,095 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 149,182,767 | ||
Total accumulated earnings (loss) | 4,602,328 | |||
Net Assets | $ | 153,785,095 | ||
Net Asset Value, offering price and redemption price per share ($153,785,095 ÷ 4,300,000 shares) | $ | 35.76 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 1,028,601 | ||
Income from Fidelity Central Funds (including $2,964 from security lending) | 7,043 | |||
Total Income | 1,035,644 | |||
Expenses | ||||
Management fee | $ | 138,029 | ||
Independent trustees' fees and expenses | 349 | |||
Total expenses before reductions | 138,378 | |||
Expense reductions | (777) | |||
Total expenses after reductions | 137,601 | |||
Net Investment income (loss) | 898,043 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (4,560,514) | |||
Redemptions in-kind | 2,867,410 | |||
Futures contracts | (11,252) | |||
Total net realized gain (loss) | (1,704,356) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 6,459,901 | |||
Assets and liabilities in foreign currencies | (27) | |||
Futures contracts | (10,951) | |||
Total change in net unrealized appreciation (depreciation) | 6,448,923 | |||
Net gain (loss) | 4,744,567 | |||
Net increase (decrease) in net assets resulting from operations | $ | 5,642,610 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 898,043 | $ | 1,537,092 |
Net realized gain (loss) | (1,704,356) | (2,572,384) | ||
Change in net unrealized appreciation (depreciation) | 6,448,923 | 10,094,272 | ||
Net increase (decrease) in net assets resulting from operations | 5,642,610 | 9,058,980 | ||
Distributions to shareholders | (907,200) | (1,518,700) | ||
Share transactions | ||||
Proceeds from sales of shares | 37,349,645 | 48,425,159 | ||
Cost of shares redeemed | (13,276,156) | (2,938,248) | ||
Net increase (decrease) in net assets resulting from share transactions | 24,073,489 | 45,486,911 | ||
Total increase (decrease) in net assets | 28,808,899 | 53,027,191 | ||
Net Assets | ||||
Beginning of period | 124,976,196 | 71,949,005 | ||
End of period | $ | 153,785,095 | $ | 124,976,196 |
Other Information | ||||
Shares | ||||
Sold | 1,100,000 | 1,500,000 | ||
Redeemed | (400,000) | (100,000) | ||
Net increase (decrease) | 700,000 | 1,400,000 | ||
Fidelity® Small-Mid Multifactor ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 34.72 | $ | 32.70 | $ | 33.97 | $ | 23.90 | $ | 25.50 | $ | 24.85 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .24 | .53 | .45 | .38 | .31 | .18 | ||||||
Net realized and unrealized gain (loss) | 1.04 | 2.01 | (1.26) | 10.11 | (1.58) | .64 | ||||||
Total from investment operations | 1.28 | 2.54 | (.81) | 10.49 | (1.27) | .82 | ||||||
Distributions from net investment income | (.24) | (.52) | (.46) | (.42) | (.33) | (.17) | ||||||
Total distributions | (.24) | (.52) | (.46) | (.42) | (.33) | (.17) | ||||||
Net asset value, end of period | $ | 35.76 | $ | 34.72 | $ | 32.70 | $ | 33.97 | $ | 23.90 | $ | 25.50 |
Total Return D,E,F | 3.74% | 7.92% | (2.35)% | 44.21% | (4.90)% | 3.35% | ||||||
Ratios to Average Net Assets C,G,H | ||||||||||||
Expenses before reductions | .22% I | .29% | .29% | .29% | .29% | .29% I | ||||||
Expenses net of fee waivers, if any | .22% I | .29% | .29% | .29% | .29% | .29% I | ||||||
Expenses net of all reductions | .21% I | .29% | .29% | .29% | .29% | .29% I | ||||||
Net investment income (loss) | 1.40% I | 1.65% | 1.35% | 1.23% | 1.32% | 1.70% I | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 153,785 | $ | 124,976 | $ | 71,949 | $ | 67,939 | $ | 19,117 | $ | 7,650 |
Portfolio turnover rate J,K | 54% I | 65% | 60% | 61% | 52% | 2% L |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 5.8 | |
Apple, Inc. | 5.3 | |
NVIDIA Corp. | 3.1 | |
Marathon Petroleum Corp. | 2.8 | |
Steel Dynamics, Inc. | 2.7 | |
Nucor Corp. | 2.7 | |
Eli Lilly & Co. | 2.6 | |
PBF Energy, Inc. Class A | 2.4 | |
Reliance Steel & Aluminum Co. | 2.4 | |
Procter & Gamble Co. | 2.3 | |
32.1 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 23.2 | |
Health Care | 18.9 | |
Consumer Staples | 10.4 | |
Financials | 8.4 | |
Materials | 7.8 | |
Energy | 7.4 | |
Consumer Discretionary | 6.1 | |
Real Estate | 5.7 | |
Industrials | 4.6 | |
Utilities | 4.0 | |
Communication Services | 3.3 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.2% |
Common Stocks - 99.8% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 3.3% | |||
Diversified Telecommunication Services - 0.2% | |||
AT&T, Inc. | 15,851 | 280,404 | |
Entertainment - 0.3% | |||
Netflix, Inc. (a) | 764 | 430,980 | |
Interactive Media & Services - 2.3% | |||
Alphabet, Inc. Class A (a) | 13,718 | 1,921,892 | |
Meta Platforms, Inc. Class A | 2,916 | 1,137,648 | |
3,059,540 | |||
Media - 0.5% | |||
Comcast Corp. Class A | 7,195 | 334,855 | |
Fox Corp. Class A | 3,667 | 118,444 | |
Nexstar Media Group, Inc. Class A | 644 | 114,445 | |
567,744 | |||
TOTAL COMMUNICATION SERVICES | 4,338,668 | ||
CONSUMER DISCRETIONARY - 6.1% | |||
Hotels, Restaurants & Leisure - 1.8% | |||
Booking Holdings, Inc. (a) | 266 | 932,987 | |
Boyd Gaming Corp. | 8,842 | 561,379 | |
McDonald's Corp. | 3,188 | 933,191 | |
2,427,557 | |||
Household Durables - 3.7% | |||
D.R. Horton, Inc. | 5,247 | 749,849 | |
KB Home | 11,109 | 661,985 | |
Lennar Corp. Class A | 5,200 | 779,220 | |
Meritage Homes Corp. | 4,103 | 679,498 | |
NVR, Inc. (a) | 99 | 700,454 | |
PulteGroup, Inc. | 7,536 | 787,964 | |
Taylor Morrison Home Corp. (a) | 12,473 | 650,342 | |
5,009,312 | |||
Specialty Retail - 0.6% | |||
O'Reilly Automotive, Inc. (a) | 727 | 743,757 | |
TOTAL CONSUMER DISCRETIONARY | 8,180,626 | ||
CONSUMER STAPLES - 10.4% | |||
Beverages - 1.9% | |||
The Coca-Cola Co. | 42,660 | 2,537,843 | |
Household Products - 5.4% | |||
Colgate-Palmolive Co. | 27,354 | 2,303,207 | |
Kimberly-Clark Corp. | 15,808 | 1,912,294 | |
Procter & Gamble Co. | 19,262 | 3,026,831 | |
7,242,332 | |||
Tobacco - 3.1% | |||
Altria Group, Inc. | 48,354 | 1,939,962 | |
Philip Morris International, Inc. | 24,232 | 2,201,477 | |
4,141,439 | |||
TOTAL CONSUMER STAPLES | 13,921,614 | ||
ENERGY - 7.4% | |||
Oil, Gas & Consumable Fuels - 7.4% | |||
Chord Energy Corp. | 18,816 | 2,893,148 | |
Marathon Petroleum Corp. | 22,722 | 3,762,763 | |
PBF Energy, Inc. Class A | 64,607 | 3,263,300 | |
9,919,211 | |||
FINANCIALS - 8.4% | |||
Banks - 0.5% | |||
First Citizens Bancshares, Inc. | 467 | 705,170 | |
Consumer Finance - 1.8% | |||
Capital One Financial Corp. | 6,596 | 892,571 | |
Discover Financial Services | 6,952 | 733,575 | |
Synchrony Financial | 20,155 | 783,425 | |
2,409,571 | |||
Financial Services - 3.9% | |||
Essent Group Ltd. | 13,191 | 727,616 | |
MasterCard, Inc. Class A | 3,259 | 1,464,041 | |
MGIC Investment Corp. | 38,142 | 756,737 | |
Radian Group, Inc. | 24,437 | 708,184 | |
Visa, Inc. Class A | 5,816 | 1,589,280 | |
5,245,858 | |||
Insurance - 2.2% | |||
Arch Capital Group Ltd. (a) | 9,280 | 764,950 | |
Everest Re Group Ltd. | 1,913 | 736,448 | |
Principal Financial Group, Inc. | 8,794 | 695,605 | |
Unum Group | 13,511 | 653,122 | |
2,850,125 | |||
TOTAL FINANCIALS | 11,210,724 | ||
HEALTH CARE - 18.9% | |||
Biotechnology - 7.0% | |||
AbbVie, Inc. | 14,401 | 2,367,524 | |
Gilead Sciences, Inc. | 21,646 | 1,694,016 | |
Regeneron Pharmaceuticals, Inc. (a) | 2,076 | 1,957,211 | |
United Therapeutics Corp. (a) | 5,964 | 1,280,948 | |
Vertex Pharmaceuticals, Inc. (a) | 4,661 | 2,019,984 | |
9,319,683 | |||
Health Care Equipment & Supplies - 1.5% | |||
Stryker Corp. | 5,920 | 1,986,042 | |
Health Care Providers & Services - 3.8% | |||
Cardinal Health, Inc. | 15,160 | 1,655,320 | |
HCA Holdings, Inc. | 5,609 | 1,710,184 | |
McKesson Corp. | 3,512 | 1,755,614 | |
5,121,118 | |||
Pharmaceuticals - 6.6% | |||
Bristol-Myers Squibb Co. | 28,407 | 1,388,250 | |
Eli Lilly & Co. | 5,393 | 3,481,775 | |
Merck & Co., Inc. | 20,454 | 2,470,434 | |
Pfizer, Inc. | 55,670 | 1,507,544 | |
8,848,003 | |||
TOTAL HEALTH CARE | 25,274,846 | ||
INDUSTRIALS - 4.6% | |||
Building Products - 1.0% | |||
Builders FirstSource, Inc. (a) | 3,967 | 689,187 | |
Owens Corning | 4,034 | 611,272 | |
1,300,459 | |||
Electrical Equipment - 0.4% | |||
Atkore, Inc. | 3,599 | 548,955 | |
Industrial Conglomerates - 0.6% | |||
General Electric Co. | 6,454 | 854,639 | |
Machinery - 1.5% | |||
Allison Transmission Holdings, Inc. | 9,434 | 571,134 | |
Mueller Industries, Inc. | 14,109 | 677,232 | |
PACCAR, Inc. | 7,211 | 723,912 | |
1,972,278 | |||
Trading Companies & Distributors - 1.1% | |||
Boise Cascade Co. | 5,032 | 681,635 | |
W.W. Grainger, Inc. | 822 | 736,216 | |
1,417,851 | |||
TOTAL INDUSTRIALS | 6,094,182 | ||
INFORMATION TECHNOLOGY - 23.2% | |||
Communications Equipment - 0.6% | |||
Cisco Systems, Inc. | 15,746 | 790,134 | |
Electronic Equipment, Instruments & Components - 0.5% | |||
Arrow Electronics, Inc. (a) | 2,480 | 275,652 | |
Jabil, Inc. | 3,071 | 384,766 | |
660,418 | |||
IT Services - 0.8% | |||
Amdocs Ltd. | 3,657 | 335,274 | |
Cognizant Technology Solutions Corp. Class A | 5,490 | 423,389 | |
VeriSign, Inc. (a) | 1,655 | 329,146 | |
1,087,809 | |||
Semiconductors & Semiconductor Equipment - 7.3% | |||
Analog Devices, Inc. | 2,808 | 540,147 | |
Applied Materials, Inc. | 4,106 | 674,616 | |
Axcelis Technologies, Inc. (a) | 1,676 | 217,964 | |
Broadcom, Inc. | 1,371 | 1,617,780 | |
Diodes, Inc. (a) | 3,442 | 231,715 | |
KLA Corp. | 932 | 553,645 | |
Lam Research Corp. | 762 | 628,780 | |
Microchip Technology, Inc. | 4,689 | 399,409 | |
NVIDIA Corp. | 6,785 | 4,174,607 | |
Rambus, Inc. (a) | 5,837 | 400,010 | |
Skyworks Solutions, Inc. | 3,123 | 326,229 | |
9,764,902 | |||
Software - 8.7% | |||
Adobe, Inc. (a) | 1,703 | 1,052,079 | |
Cadence Design Systems, Inc. (a) | 1,980 | 571,151 | |
Dolby Laboratories, Inc. Class A | 3,550 | 295,289 | |
Fair Isaac Corp. (a) | 411 | 492,719 | |
Fortinet, Inc. (a) | 5,553 | 358,113 | |
Manhattan Associates, Inc. (a) | 1,744 | 423,025 | |
Microsoft Corp. | 19,297 | 7,672,102 | |
Oracle Corp. | 6,406 | 715,550 | |
11,580,028 | |||
Technology Hardware, Storage & Peripherals - 5.3% | |||
Apple, Inc. | 38,116 | 7,028,590 | |
TOTAL INFORMATION TECHNOLOGY | 30,911,881 | ||
MATERIALS - 7.8% | |||
Metals & Mining - 7.8% | |||
Nucor Corp. | 19,216 | 3,592,047 | |
Reliance Steel & Aluminum Co. | 11,180 | 3,190,996 | |
Steel Dynamics, Inc. | 30,552 | 3,687,321 | |
10,470,364 | |||
REAL ESTATE - 5.7% | |||
Equity Real Estate Investment Trusts (REITs) - 5.7% | |||
Public Storage | 8,585 | 2,431,186 | |
Simon Property Group, Inc. | 20,642 | 2,861,188 | |
VICI Properties, Inc. | 77,885 | 2,345,896 | |
7,638,270 | |||
UTILITIES - 4.0% | |||
Gas Utilities - 1.8% | |||
National Fuel Gas Co. | 52,028 | 2,453,640 | |
Multi-Utilities - 2.2% | |||
Consolidated Edison, Inc. | 31,647 | 2,876,712 | |
TOTAL UTILITIES | 5,330,352 | ||
TOTAL COMMON STOCKS (Cost $117,162,779) | 133,290,738 | ||
Money Market Funds - 0.1% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (b) (Cost $138,928) | 138,900 | 138,928 | |
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $117,301,707) | 133,429,666 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 157,391 |
NET ASSETS - 100.0% | 133,587,057 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Micro E-mini S&P 500 Index Contracts (United States) | 1 | Mar 2024 | 243,525 | 9,646 | 9,646 |
The notional amount of futures purchased as a percentage of Net Assets is 0.2% |
(a) | Non-income producing |
(b) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements 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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 107,212 | 13,240,085 | 13,208,369 | 5,027 | - | - | 138,928 | 0.0% |
Total | 107,212 | 13,240,085 | 13,208,369 | 5,027 | - | - | 138,928 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 4,338,668 | 4,338,668 | - | - |
Consumer Discretionary | 8,180,626 | 8,180,626 | - | - |
Consumer Staples | 13,921,614 | 13,921,614 | - | - |
Energy | 9,919,211 | 9,919,211 | - | - |
Financials | 11,210,724 | 11,210,724 | - | - |
Health Care | 25,274,846 | 25,274,846 | - | - |
Industrials | 6,094,182 | 6,094,182 | - | - |
Information Technology | 30,911,881 | 30,911,881 | - | - |
Materials | 10,470,364 | 10,470,364 | - | - |
Real Estate | 7,638,270 | 7,638,270 | - | - |
Utilities | 5,330,352 | 5,330,352 | - | - |
Money Market Funds | 138,928 | 138,928 | - | - |
Total Investments in Securities: | 133,429,666 | 133,429,666 | - | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 9,646 | 9,646 | - | - |
Total Assets | 9,646 | 9,646 | - | - |
Total Derivative Instruments: | 9,646 | 9,646 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 9,646 | 0 |
Total Equity Risk | 9,646 | 0 |
Total Value of Derivatives | 9,646 | 0 |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $117,162,779) | $ | 133,290,738 | ||
Fidelity Central Funds (cost $138,928) | 138,928 | |||
Total Investment in Securities (cost $117,301,707) | $ | 133,429,666 | ||
Segregated cash with brokers for derivative instruments | 33,600 | |||
Cash | 25,178 | |||
Dividends receivable | 118,408 | |||
Distributions receivable from Fidelity Central Funds | 639 | |||
Total assets | 133,607,491 | |||
Liabilities | ||||
Accrued management fee | $ | 16,409 | ||
Payable for daily variation margin on futures contracts | 4,025 | |||
Total Liabilities | 20,434 | |||
Net Assets | $ | 133,587,057 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 139,736,919 | ||
Total accumulated earnings (loss) | (6,149,862) | |||
Net Assets | $ | 133,587,057 | ||
Net Asset Value, offering price and redemption price per share ($133,587,057 ÷ 3,700,000 shares) | $ | 36.10 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 1,404,265 | ||
Income from Fidelity Central Funds | 5,027 | |||
Total Income | 1,409,292 | |||
Expenses | ||||
Management fee | $ | 147,129 | ||
Independent trustees' fees and expenses | 419 | |||
Total expenses before reductions | 147,548 | |||
Expense reductions | (160) | |||
Total expenses after reductions | 147,388 | |||
Net Investment income (loss) | 1,261,904 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (3,068,785) | |||
Redemptions in-kind | 1,587,317 | |||
Futures contracts | 11,677 | |||
Total net realized gain (loss) | (1,469,791) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 10,742,563 | |||
Futures contracts | (3,614) | |||
Total change in net unrealized appreciation (depreciation) | 10,738,949 | |||
Net gain (loss) | 9,269,158 | |||
Net increase (decrease) in net assets resulting from operations | $ | 10,531,062 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 1,261,904 | $ | 4,059,664 |
Net realized gain (loss) | (1,469,791) | (11,942,083) | ||
Change in net unrealized appreciation (depreciation) | 10,738,949 | 19,422,908 | ||
Net increase (decrease) in net assets resulting from operations | 10,531,062 | 11,540,489 | ||
Distributions to shareholders | (1,208,150) | (4,166,950) | ||
Share transactions | ||||
Proceeds from sales of shares | - | 7,889,065 | ||
Cost of shares redeemed | (23,234,693) | (128,142,495) | ||
Net increase (decrease) in net assets resulting from share transactions | (23,234,693) | (120,253,430) | ||
Total increase (decrease) in net assets | (13,911,781) | (112,879,891) | ||
Net Assets | ||||
Beginning of period | 147,498,838 | 260,378,729 | ||
End of period | $ | 133,587,057 | $ | 147,498,838 |
Other Information | ||||
Shares | ||||
Sold | - | 250,000 | ||
Redeemed | (700,000) | (4,050,000) | ||
Net increase (decrease) | (700,000) | (3,800,000) | ||
Fidelity® Stocks for Inflation ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 A | ||||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 33.52 | $ | 31.75 | $ | 30.72 | $ | 24.07 | $ | 24.94 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | .32 | .61 | .54 | .39 | .38 | |||||
Net realized and unrealized gain (loss) | 2.57 | 1.80 | 1.00 | 7.08 | (.90) | |||||
Total from investment operations | 2.89 | 2.41 | 1.54 | 7.47 | (.52) | |||||
Distributions from net investment income | (.31) | (.64) | (.51) | (.82) | (.35) | |||||
Total distributions | (.31) | (.64) | (.51) | (.82) | (.35) | |||||
Net asset value, end of period | $ | 36.10 | $ | 33.52 | $ | 31.75 | $ | 30.72 | $ | 24.07 |
Total Return D,E,F | 8.68% | 7.77% | 5.03% | 31.78% | (1.88)% | |||||
Ratios to Average Net Assets C,G,H | ||||||||||
Expenses before reductions | .22% I | .29% | .29% | .29% | .29% I,J | |||||
Expenses net of fee waivers, if any | .22% I | .29% | .29% | .29% | .29% I,J | |||||
Expenses net of all reductions | .22% I | .29% | .29% | .29% | .29% I,J | |||||
Net investment income (loss) | 1.90% I | 1.95% | 1.68% | 1.34% | 2.16% I,J | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 133,587 | $ | 147,499 | $ | 260,379 | $ | 46,083 | $ | 3,610 |
Portfolio turnover rate K,L | 88% I | 105% | 76% | 52% | 65% M |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 7.1 | |
Apple, Inc. | 6.5 | |
Alphabet, Inc. Class A | 3.8 | |
Meta Platforms, Inc. Class A | 2.3 | |
Eli Lilly & Co. | 2.0 | |
Visa, Inc. Class A | 1.9 | |
MasterCard, Inc. Class A | 1.8 | |
The Home Depot, Inc. | 1.6 | |
Exxon Mobil Corp. | 1.6 | |
Broadcom, Inc. | 1.6 | |
30.2 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 27.4 | |
Financials | 13.8 | |
Health Care | 13.1 | |
Consumer Discretionary | 11.3 | |
Industrials | 8.6 | |
Communication Services | 8.2 | |
Consumer Staples | 5.8 | |
Energy | 4.1 | |
Materials | 2.7 | |
Real Estate | 2.5 | |
Utilities | 2.2 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.2% |
Common Stocks - 99.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 8.2% | |||
Diversified Telecommunication Services - 0.6% | |||
AT&T, Inc. | 27,618 | 488,562 | |
Interactive Media & Services - 6.1% | |||
Alphabet, Inc. Class A (a) | 21,519 | 3,014,812 | |
Meta Platforms, Inc. Class A | 4,640 | 1,810,250 | |
4,825,062 | |||
Media - 1.5% | |||
Comcast Corp. Class A | 12,078 | 562,110 | |
Fox Corp. Class A | 7,015 | 226,585 | |
Omnicom Group, Inc. | 2,896 | 261,740 | |
TEGNA, Inc. | 12,733 | 198,507 | |
1,248,942 | |||
TOTAL COMMUNICATION SERVICES | 6,562,566 | ||
CONSUMER DISCRETIONARY - 11.3% | |||
Hotels, Restaurants & Leisure - 3.2% | |||
Booking Holdings, Inc. (a) | 272 | 954,032 | |
McDonald's Corp. | 3,341 | 977,978 | |
Yum! Brands, Inc. | 4,860 | 629,321 | |
2,561,331 | |||
Household Durables - 4.6% | |||
Lennar Corp. Class A | 5,296 | 793,606 | |
Meritage Homes Corp. | 4,153 | 687,778 | |
NVR, Inc. (a) | 98 | 693,378 | |
PulteGroup, Inc. | 7,653 | 800,198 | |
Taylor Morrison Home Corp. (a) | 12,615 | 657,746 | |
3,632,706 | |||
Specialty Retail - 3.5% | |||
AutoZone, Inc. (a) | 269 | 743,013 | |
O'Reilly Automotive, Inc. (a) | 744 | 761,149 | |
The Home Depot, Inc. | 3,612 | 1,274,892 | |
2,779,054 | |||
TOTAL CONSUMER DISCRETIONARY | 8,973,091 | ||
CONSUMER STAPLES - 5.8% | |||
Food Products - 0.7% | |||
The Hershey Co. | 2,698 | 522,171 | |
Household Products - 3.2% | |||
Colgate-Palmolive Co. | 8,829 | 743,402 | |
Kimberly-Clark Corp. | 4,969 | 601,100 | |
Procter & Gamble Co. | 7,817 | 1,228,363 | |
2,572,865 | |||
Personal Care Products - 0.1% | |||
Kenvue, Inc. | 4,336 | 90,015 | |
Tobacco - 1.8% | |||
Altria Group, Inc. | 15,887 | 637,386 | |
Philip Morris International, Inc. | 8,553 | 777,040 | |
1,414,426 | |||
TOTAL CONSUMER STAPLES | 4,599,477 | ||
ENERGY - 4.1% | |||
Oil, Gas & Consumable Fuels - 4.1% | |||
ConocoPhillips Co. | 6,840 | 765,191 | |
Coterra Energy, Inc. | 20,727 | 515,688 | |
Exxon Mobil Corp. | 12,281 | 1,262,610 | |
Valero Energy Corp. | 4,918 | 683,110 | |
3,226,599 | |||
FINANCIALS - 13.8% | |||
Banks - 0.8% | |||
First Citizens Bancshares, Inc. | 441 | 665,910 | |
Financial Services - 6.3% | |||
Essent Group Ltd. | 12,537 | 691,541 | |
MasterCard, Inc. Class A | 3,110 | 1,397,105 | |
MGIC Investment Corp. | 36,278 | 719,756 | |
Radian Group, Inc. | 23,251 | 673,814 | |
Visa, Inc. Class A | 5,554 | 1,517,686 | |
4,999,902 | |||
Insurance - 6.7% | |||
Arch Capital Group Ltd. (a) | 8,819 | 726,950 | |
Chubb Ltd. | 3,852 | 943,740 | |
Everest Re Group Ltd. | 1,818 | 699,875 | |
Reinsurance Group of America, Inc. | 4,555 | 792,069 | |
RLI Corp. | 4,705 | 641,621 | |
The Travelers Companies, Inc. | 4,137 | 874,396 | |
Unum Group | 12,858 | 621,556 | |
5,300,207 | |||
TOTAL FINANCIALS | 10,966,019 | ||
HEALTH CARE - 13.1% | |||
Biotechnology - 6.4% | |||
AbbVie, Inc. | 6,241 | 1,026,020 | |
Amgen, Inc. | 2,941 | 924,239 | |
Biogen, Inc. (a) | 1,968 | 485,427 | |
Gilead Sciences, Inc. | 8,293 | 649,010 | |
Regeneron Pharmaceuticals, Inc. (a) | 786 | 741,025 | |
United Therapeutics Corp. (a) | 2,052 | 440,729 | |
Vertex Pharmaceuticals, Inc. (a) | 1,775 | 769,250 | |
5,035,700 | |||
Pharmaceuticals - 6.7% | |||
Bristol-Myers Squibb Co. | 11,234 | 549,006 | |
Eli Lilly & Co. | 2,433 | 1,570,769 | |
Johnson & Johnson | 6,810 | 1,082,109 | |
Merck & Co., Inc. | 8,887 | 1,073,372 | |
Pfizer, Inc. | 23,219 | 628,771 | |
Royalty Pharma PLC | 15,616 | 443,338 | |
5,347,365 | |||
TOTAL HEALTH CARE | 10,383,065 | ||
INDUSTRIALS - 8.6% | |||
Aerospace & Defense - 1.0% | |||
Lockheed Martin Corp. | 1,895 | 813,732 | |
Air Freight & Logistics - 0.9% | |||
Expeditors International of Washington, Inc. | 5,644 | 713,007 | |
Building Products - 1.1% | |||
Builders FirstSource, Inc. (a) | 4,852 | 842,938 | |
Electrical Equipment - 0.8% | |||
Atkore, Inc. | 4,398 | 670,827 | |
Machinery - 2.8% | |||
Allison Transmission Holdings, Inc. | 11,528 | 697,905 | |
Mueller Industries, Inc. | 17,221 | 826,608 | |
Snap-On, Inc. | 2,538 | 735,842 | |
2,260,355 | |||
Professional Services - 2.0% | |||
Automatic Data Processing, Inc. | 3,439 | 845,237 | |
Paychex, Inc. | 5,938 | 722,833 | |
1,568,070 | |||
TOTAL INDUSTRIALS | 6,868,929 | ||
INFORMATION TECHNOLOGY - 27.4% | |||
Communications Equipment - 0.8% | |||
Cisco Systems, Inc. | 12,657 | 635,128 | |
Electronic Equipment, Instruments & Components - 1.1% | |||
Arrow Electronics, Inc. (a) | 2,303 | 255,978 | |
Badger Meter, Inc. | 1,770 | 254,862 | |
Jabil, Inc. | 2,821 | 353,443 | |
864,283 | |||
IT Services - 2.7% | |||
Accenture PLC Class A | 2,023 | 736,129 | |
Akamai Technologies, Inc. (a) | 3,309 | 407,768 | |
Amdocs Ltd. | 3,383 | 310,153 | |
Cognizant Technology Solutions Corp. Class A | 4,904 | 378,196 | |
VeriSign, Inc. (a) | 1,515 | 301,303 | |
2,133,549 | |||
Semiconductors & Semiconductor Equipment - 4.5% | |||
Analog Devices, Inc. | 2,377 | 457,240 | |
Applied Materials, Inc. | 3,424 | 562,563 | |
Broadcom, Inc. | 1,068 | 1,260,240 | |
Cirrus Logic, Inc. (a) | 3,626 | 279,927 | |
Diodes, Inc. (a) | 3,225 | 217,107 | |
KLA Corp. | 806 | 478,796 | |
Skyworks Solutions, Inc. | 2,864 | 299,173 | |
3,555,046 | |||
Software - 11.8% | |||
Adobe, Inc. (a) | 1,361 | 840,799 | |
Cadence Design Systems, Inc. (a) | 1,720 | 496,151 | |
Dolby Laboratories, Inc. Class A | 3,310 | 275,326 | |
Fair Isaac Corp. (a) | 372 | 445,965 | |
Fortinet, Inc. (a) | 4,884 | 314,969 | |
Microsoft Corp. | 14,236 | 5,659,951 | |
Oracle Corp. | 5,223 | 583,409 | |
SPS Commerce, Inc. (a) | 1,738 | 319,444 | |
Synopsys, Inc. (a) | 912 | 486,415 | |
9,422,429 | |||
Technology Hardware, Storage & Peripherals - 6.5% | |||
Apple, Inc. | 28,067 | 5,175,555 | |
TOTAL INFORMATION TECHNOLOGY | 21,785,990 | ||
MATERIALS - 2.7% | |||
Chemicals - 0.8% | |||
CF Industries Holdings, Inc. | 8,033 | 606,572 | |
Metals & Mining - 1.9% | |||
Nucor Corp. | 4,082 | 763,048 | |
Steel Dynamics, Inc. | 6,209 | 749,364 | |
1,512,412 | |||
TOTAL MATERIALS | 2,118,984 | ||
REAL ESTATE - 2.5% | |||
Equity Real Estate Investment Trusts (REITs) - 2.5% | |||
Net Lease Office Properties | 683 | 16,925 | |
Public Storage | 2,514 | 711,940 | |
VICI Properties, Inc. | 22,408 | 674,929 | |
WP Carey, Inc. | 9,968 | 617,617 | |
2,021,411 | |||
UTILITIES - 2.2% | |||
Gas Utilities - 1.0% | |||
National Fuel Gas Co. | 16,741 | 789,506 | |
Multi-Utilities - 1.2% | |||
Consolidated Edison, Inc. | 10,424 | 947,542 | |
TOTAL UTILITIES | 1,737,048 | ||
TOTAL COMMON STOCKS (Cost $72,922,711) | 79,243,179 | ||
Money Market Funds - 0.2% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (b) (Cost $116,991) | 116,968 | 116,991 | |
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $73,039,702) | 79,360,170 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 86,955 |
NET ASSETS - 100.0% | 79,447,125 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P 500 Index Contracts (United States) | 5 | Mar 2024 | 121,763 | 2,808 | 2,808 |
The notional amount of futures purchased as a percentage of Net Assets is 0.2% |
(a) | Non-income producing |
(b) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements 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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 18,721 | 1,197,623 | 1,099,353 | 1,265 | - | - | 116,991 | 0.0% |
Total | 18,721 | 1,197,623 | 1,099,353 | 1,265 | - | - | 116,991 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 6,562,566 | 6,562,566 | - | - |
Consumer Discretionary | 8,973,091 | 8,973,091 | - | - |
Consumer Staples | 4,599,477 | 4,599,477 | - | - |
Energy | 3,226,599 | 3,226,599 | - | - |
Financials | 10,966,019 | 10,966,019 | - | - |
Health Care | 10,383,065 | 10,383,065 | - | - |
Industrials | 6,868,929 | 6,868,929 | - | - |
Information Technology | 21,785,990 | 21,785,990 | - | - |
Materials | 2,118,984 | 2,118,984 | - | - |
Real Estate | 2,021,411 | 2,021,411 | - | - |
Utilities | 1,737,048 | 1,737,048 | - | - |
Money Market Funds | 116,991 | 116,991 | - | - |
Total Investments in Securities: | 79,360,170 | 79,360,170 | - | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 2,808 | 2,808 | - | - |
Total Assets | 2,808 | 2,808 | - | - |
Total Derivative Instruments: | 2,808 | 2,808 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 2,808 | 0 |
Total Equity Risk | 2,808 | 0 |
Total Value of Derivatives | 2,808 | 0 |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $72,922,711) | $ | 79,243,179 | ||
Fidelity Central Funds (cost $116,991) | 116,991 | |||
Total Investment in Securities (cost $73,039,702) | $ | 79,360,170 | ||
Segregated cash with brokers for derivative instruments | 8,960 | |||
Cash | 913 | |||
Receivable for fund shares sold | 4,256,095 | |||
Dividends receivable | 54,932 | |||
Distributions receivable from Fidelity Central Funds | 424 | |||
Total assets | 83,681,494 | |||
Liabilities | ||||
Payable for investments purchased | $ | 4,224,138 | ||
Accrued management fee | 8,218 | |||
Payable for daily variation margin on futures contracts | 2,013 | |||
Total Liabilities | 4,234,369 | |||
Net Assets | $ | 79,447,125 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 74,021,131 | ||
Total accumulated earnings (loss) | 5,425,994 | |||
Net Assets | $ | 79,447,125 | ||
Net Asset Value, offering price and redemption price per share ($79,447,125 ÷ 2,800,000 shares) | $ | 28.37 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 381,299 | ||
Income from Fidelity Central Funds | 1,265 | |||
Total Income | 382,564 | |||
Expenses | ||||
Management fee | $ | 45,339 | ||
Independent trustees' fees and expenses | 106 | |||
Total expenses before reductions | 45,445 | |||
Expense reductions | (249) | |||
Total expenses after reductions | 45,196 | |||
Net Investment income (loss) | 337,368 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (510,939) | |||
Redemptions in-kind | 660,597 | |||
Futures contracts | 8,205 | |||
Total net realized gain (loss) | 157,863 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 3,374,437 | |||
Futures contracts | 548 | |||
Total change in net unrealized appreciation (depreciation) | 3,374,985 | |||
Net gain (loss) | 3,532,848 | |||
Net increase (decrease) in net assets resulting from operations | $ | 3,870,216 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 337,368 | $ | 376,380 |
Net realized gain (loss) | 157,863 | (51,150) | ||
Change in net unrealized appreciation (depreciation) | 3,374,985 | 2,842,246 | ||
Net increase (decrease) in net assets resulting from operations | 3,870,216 | 3,167,476 | ||
Distributions to shareholders | (295,200) | (365,300) | ||
Share transactions | ||||
Proceeds from sales of shares | 45,113,274 | 20,841,939 | ||
Cost of shares redeemed | (3,894,372) | (3,667,295) | ||
Net increase (decrease) in net assets resulting from share transactions | 41,218,902 | 17,174,644 | ||
Total increase (decrease) in net assets | 44,793,918 | 19,976,820 | ||
Net Assets | ||||
Beginning of period | 34,653,207 | 14,676,387 | ||
End of period | $ | 79,447,125 | $ | 34,653,207 |
Other Information | ||||
Shares | ||||
Sold | 1,650,000 | 850,000 | ||
Redeemed | (150,000) | (150,000) | ||
Net increase (decrease) | 1,500,000 | 700,000 | ||
Fidelity® U.S. Multifactor ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 A | |||||
Selected Per-Share Data | ||||||||
Net asset value, beginning of period | $ | 26.66 | $ | 24.46 | $ | 25.54 | $ | 20.09 |
Income from Investment Operations | ||||||||
Net investment income (loss) B,C | .20 | .41 | .41 | .31 D | ||||
Net realized and unrealized gain (loss) | 1.69 | 2.19 | (1.09) | 5.62 | ||||
Total from investment operations | 1.89 | 2.60 | (.68) | 5.93 | ||||
Distributions from net investment income | (.18) | (.40) | (.40) | (.48) | ||||
Total distributions | (.18) | (.40) | (.40) | (.48) | ||||
Net asset value, end of period | $ | 28.37 | $ | 26.66 | $ | 24.46 | $ | 25.54 |
Total Return E,F,G | 7.17% | 10.78% | (2.64)% | 29.94% | ||||
Ratios to Average Net Assets C,H,I | ||||||||
Expenses before reductions | .21% J | .29% | .29% | .29% J | ||||
Expenses net of fee waivers, if any | .21% J | .29% | .29% | .29% J | ||||
Expenses net of all reductions | .21% J | .29% | .29% | .29% J | ||||
Net investment income (loss) | 1.54% J | 1.66% | 1.63% | 1.56% D,J | ||||
Supplemental Data | ||||||||
Net assets, end of period (000 omitted) | $ | 79,447 | $ | 34,653 | $ | 14,676 | $ | 11,491 |
Portfolio turnover rate K,L | 38% J | 45% | 46% | 30% M |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 7.6 | |
Apple, Inc. | 6.9 | |
Alphabet, Inc. Class A | 3.8 | |
Amazon.com, Inc. | 3.6 | |
Meta Platforms, Inc. Class A | 2.3 | |
Broadcom, Inc. | 2.1 | |
Berkshire Hathaway, Inc. Class B | 2.1 | |
UnitedHealth Group, Inc. | 1.8 | |
JPMorgan Chase & Co. | 1.8 | |
Salesforce, Inc. | 1.6 | |
33.6 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 28.3 | |
Financials | 13.9 | |
Health Care | 11.8 | |
Consumer Discretionary | 10.9 | |
Industrials | 8.9 | |
Communication Services | 8.8 | |
Consumer Staples | 5.7 | |
Energy | 4.0 | |
Materials | 2.6 | |
Real Estate | 2.6 | |
Utilities | 2.2 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.3% |
Common Stocks - 99.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 8.8% | |||
Diversified Telecommunication Services - 1.4% | |||
AT&T, Inc. | 248,698 | 4,399,468 | |
Verizon Communications, Inc. | 124,280 | 5,263,258 | |
9,662,726 | |||
Interactive Media & Services - 6.1% | |||
Alphabet, Inc. Class A (a) | 189,790 | 26,589,579 | |
Meta Platforms, Inc. Class A | 41,074 | 16,024,610 | |
42,614,189 | |||
Media - 1.3% | |||
Comcast Corp. Class A | 108,062 | 5,029,205 | |
Fox Corp. Class A | 64,279 | 2,076,212 | |
TEGNA, Inc. | 116,998 | 1,823,999 | |
8,929,416 | |||
TOTAL COMMUNICATION SERVICES | 61,206,331 | ||
CONSUMER DISCRETIONARY - 10.9% | |||
Automobiles - 2.4% | |||
Ford Motor Co. | 265,495 | 3,111,601 | |
General Motors Co. | 94,117 | 3,651,740 | |
Tesla, Inc. (a) | 52,867 | 9,901,460 | |
16,664,801 | |||
Broadline Retail - 4.1% | |||
Amazon.com, Inc. (a) | 161,791 | 25,109,963 | |
Macy's, Inc. | 170,714 | 3,122,359 | |
28,232,322 | |||
Diversified Consumer Services - 0.5% | |||
H&R Block, Inc. | 80,111 | 3,752,399 | |
Hotels, Restaurants & Leisure - 2.3% | |||
Booking Holdings, Inc. (a) | 1,502 | 5,268,220 | |
Expedia, Inc. (a) | 29,250 | 4,338,653 | |
McDonald's Corp. | 20,680 | 6,053,450 | |
15,660,323 | |||
Household Durables - 0.4% | |||
Taylor Morrison Home Corp. (a) | 57,708 | 3,008,895 | |
Specialty Retail - 1.2% | |||
The Home Depot, Inc. | 24,073 | 8,496,806 | |
TOTAL CONSUMER DISCRETIONARY | 75,815,546 | ||
CONSUMER STAPLES - 5.7% | |||
Beverages - 0.8% | |||
The Coca-Cola Co. | 96,118 | 5,718,060 | |
Consumer Staples Distribution & Retail - 1.2% | |||
Kroger Co. | 53,483 | 2,467,706 | |
Walmart, Inc. | 35,560 | 5,876,290 | |
8,343,996 | |||
Food Products - 0.5% | |||
Archer Daniels Midland Co. | 33,704 | 1,873,268 | |
Bunge Global SA | 21,000 | 1,849,890 | |
3,723,158 | |||
Household Products - 2.0% | |||
Colgate-Palmolive Co. | 40,943 | 3,447,401 | |
Kimberly-Clark Corp. | 21,901 | 2,649,364 | |
Procter & Gamble Co. | 50,838 | 7,988,683 | |
14,085,448 | |||
Personal Care Products - 0.1% | |||
Kenvue, Inc. | 40,773 | 846,447 | |
Tobacco - 1.1% | |||
Altria Group, Inc. | 76,351 | 3,063,202 | |
Philip Morris International, Inc. | 46,416 | 4,216,894 | |
7,280,096 | |||
TOTAL CONSUMER STAPLES | 39,997,205 | ||
ENERGY - 4.0% | |||
Oil, Gas & Consumable Fuels - 4.0% | |||
Chevron Corp. | 35,390 | 5,217,548 | |
Chord Energy Corp. | 8,683 | 1,335,098 | |
ConocoPhillips Co. | 30,032 | 3,359,680 | |
Exxon Mobil Corp. | 75,613 | 7,773,773 | |
Marathon Oil Corp. | 58,407 | 1,334,600 | |
Marathon Petroleum Corp. | 15,901 | 2,633,206 | |
PBF Energy, Inc. Class A | 29,325 | 1,481,206 | |
Phillips 66 Co. | 18,594 | 2,683,300 | |
Valero Energy Corp. | 15,683 | 2,178,369 | |
27,996,780 | |||
FINANCIALS - 13.9% | |||
Banks - 5.5% | |||
Bank of America Corp. | 229,560 | 7,807,336 | |
Citigroup, Inc. | 112,322 | 6,309,127 | |
JPMorgan Chase & Co. | 70,295 | 12,256,636 | |
Wells Fargo & Co. | 142,761 | 7,163,747 | |
Western Alliance Bancorp. | 74,019 | 4,734,255 | |
38,271,101 | |||
Capital Markets - 1.5% | |||
Goldman Sachs Group, Inc. | 15,912 | 6,110,367 | |
State Street Corp. | 56,896 | 4,202,908 | |
10,313,275 | |||
Consumer Finance - 2.7% | |||
Ally Financial, Inc. | 136,362 | 5,001,758 | |
Capital One Financial Corp. | 39,386 | 5,329,714 | |
Discover Financial Services | 40,723 | 4,297,091 | |
Synchrony Financial | 116,625 | 4,533,214 | |
19,161,777 | |||
Financial Services - 2.1% | |||
Berkshire Hathaway, Inc. Class B (a) | 38,827 | 14,899,473 | |
Insurance - 2.1% | |||
American International Group, Inc. | 73,055 | 5,078,053 | |
MetLife, Inc. | 68,664 | 4,759,788 | |
Prudential Financial, Inc. | 44,679 | 4,688,167 | |
14,526,008 | |||
TOTAL FINANCIALS | 97,171,634 | ||
HEALTH CARE - 11.8% | |||
Biotechnology - 1.4% | |||
AbbVie, Inc. | 59,921 | 9,851,012 | |
Health Care Providers & Services - 5.2% | |||
Centene Corp. (a) | 80,966 | 6,097,549 | |
CVS Health Corp. | 84,534 | 6,286,794 | |
Elevance Health, Inc. | 13,954 | 6,885,462 | |
Humana, Inc. | 11,762 | 4,446,742 | |
UnitedHealth Group, Inc. | 24,158 | 12,362,615 | |
36,079,162 | |||
Pharmaceuticals - 5.2% | |||
Bristol-Myers Squibb Co. | 111,209 | 5,434,784 | |
Johnson & Johnson | 64,001 | 10,169,759 | |
Merck & Co., Inc. | 85,291 | 10,301,447 | |
Pfizer, Inc. | 225,731 | 6,112,795 | |
Royalty Pharma PLC | 162,107 | 4,602,218 | |
36,621,003 | |||
TOTAL HEALTH CARE | 82,551,177 | ||
INDUSTRIALS - 8.9% | |||
Aerospace & Defense - 0.6% | |||
Lockheed Martin Corp. | 10,220 | 4,388,570 | |
Air Freight & Logistics - 1.1% | |||
FedEx Corp. | 15,009 | 3,621,522 | |
United Parcel Service, Inc. Class B | 27,939 | 3,964,544 | |
7,586,066 | |||
Building Products - 1.6% | |||
Builders FirstSource, Inc. (a) | 22,704 | 3,944,366 | |
Owens Corning | 22,748 | 3,447,004 | |
UFP Industries, Inc. | 30,424 | 3,451,603 | |
10,842,973 | |||
Electrical Equipment - 0.4% | |||
Atkore, Inc. | 19,993 | 3,049,532 | |
Industrial Conglomerates - 0.8% | |||
General Electric Co. | 43,830 | 5,803,969 | |
Machinery - 2.6% | |||
Caterpillar, Inc. | 18,770 | 5,636,819 | |
Deere & Co. | 11,320 | 4,455,326 | |
Mueller Industries, Inc. | 77,969 | 3,742,512 | |
PACCAR, Inc. | 43,501 | 4,367,065 | |
18,201,722 | |||
Passenger Airlines - 0.4% | |||
United Airlines Holdings, Inc. (a) | 62,533 | 2,587,616 | |
Professional Services - 0.9% | |||
Manpower, Inc. | 38,783 | 2,875,372 | |
Robert Half, Inc. | 41,204 | 3,277,366 | |
6,152,738 | |||
Trading Companies & Distributors - 0.5% | |||
Boise Cascade Co. | 27,818 | 3,768,226 | |
TOTAL INDUSTRIALS | 62,381,412 | ||
INFORMATION TECHNOLOGY - 28.3% | |||
Communications Equipment - 1.2% | |||
Cisco Systems, Inc. | 165,355 | 8,297,514 | |
Electronic Equipment, Instruments & Components - 0.7% | |||
Arrow Electronics, Inc. (a) | 42,751 | 4,751,774 | |
IT Services - 4.6% | |||
Accenture PLC Class A | 26,846 | 9,768,722 | |
Cognizant Technology Solutions Corp. Class A | 83,912 | 6,471,293 | |
DXC Technology Co. (a) | 283,590 | 6,182,262 | |
IBM Corp. | 51,370 | 9,434,614 | |
31,856,891 | |||
Semiconductors & Semiconductor Equipment - 4.2% | |||
Broadcom, Inc. | 12,634 | 14,908,120 | |
Qualcomm, Inc. | 62,660 | 9,305,637 | |
Skyworks Solutions, Inc. | 51,520 | 5,381,779 | |
29,595,536 | |||
Software - 10.0% | |||
Microsoft Corp. | 133,921 | 53,244,305 | |
Salesforce, Inc. (a) | 40,284 | 11,323,430 | |
Zoom Video Communications, Inc. Class A (a) | 80,003 | 5,168,994 | |
69,736,729 | |||
Technology Hardware, Storage & Peripherals - 7.6% | |||
Apple, Inc. | 261,722 | 48,261,537 | |
Hewlett Packard Enterprise Co. | 329,238 | 5,034,049 | |
53,295,586 | |||
TOTAL INFORMATION TECHNOLOGY | 197,534,030 | ||
MATERIALS - 2.6% | |||
Chemicals - 1.5% | |||
Albemarle Corp. (b) | 7,142 | 819,473 | |
CF Industries Holdings, Inc. | 16,064 | 1,212,993 | |
Dow, Inc. | 30,381 | 1,628,422 | |
Linde PLC | 10,487 | 4,245,452 | |
LyondellBasell Industries NV Class A | 14,928 | 1,405,023 | |
The Mosaic Co. | 31,096 | 954,958 | |
10,266,321 | |||
Metals & Mining - 1.1% | |||
Cleveland-Cliffs, Inc. (a) | 71,437 | 1,432,312 | |
Commercial Metals Co. | 20,317 | 1,060,954 | |
Nucor Corp. | 10,101 | 1,888,180 | |
Steel Dynamics, Inc. | 12,525 | 1,511,642 | |
United States Steel Corp. (b) | 47,034 | 2,211,539 | |
8,104,627 | |||
TOTAL MATERIALS | 18,370,948 | ||
REAL ESTATE - 2.6% | |||
Equity Real Estate Investment Trusts (REITs) - 2.6% | |||
Alexandria Real Estate Equities, Inc. | 11,217 | 1,356,135 | |
Boston Properties, Inc. | 18,201 | 1,210,367 | |
Host Hotels & Resorts, Inc. | 74,908 | 1,439,732 | |
Kilroy Realty Corp. | 31,220 | 1,116,427 | |
Kimco Realty Corp. | 63,077 | 1,274,155 | |
Medical Properties Trust, Inc. (b) | 117,887 | 365,450 | |
Net Lease Office Properties | 1,279 | 31,694 | |
Prologis, Inc. | 23,235 | 2,943,642 | |
Public Storage | 6,214 | 1,759,743 | |
Realty Income Corp. | 28,817 | 1,567,357 | |
Simon Property Group, Inc. | 14,210 | 1,969,648 | |
VICI Properties, Inc. | 50,305 | 1,515,187 | |
WP Carey, Inc. | 19,377 | 1,200,599 | |
17,750,136 | |||
UTILITIES - 2.2% | |||
Electric Utilities - 1.2% | |||
American Electric Power Co., Inc. | 24,462 | 1,911,461 | |
NextEra Energy, Inc. | 51,076 | 2,994,586 | |
PG&E Corp. | 102,869 | 1,735,400 | |
PPL Corp. | 61,899 | 1,621,754 | |
8,263,201 | |||
Gas Utilities - 0.2% | |||
National Fuel Gas Co. | 26,489 | 1,249,221 | |
Multi-Utilities - 0.8% | |||
Consolidated Edison, Inc. | 20,291 | 1,844,452 | |
Public Service Enterprise Group, Inc. | 29,756 | 1,725,550 | |
Sempra | 28,605 | 2,046,974 | |
5,616,976 | |||
TOTAL UTILITIES | 15,129,398 | ||
TOTAL COMMON STOCKS (Cost $628,528,794) | 695,904,597 | ||
Money Market Funds - 0.6% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (c) | 1,708,524 | 1,708,866 | |
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d) | 2,566,218 | 2,566,475 | |
TOTAL MONEY MARKET FUNDS (Cost $4,275,341) | 4,275,341 | ||
TOTAL INVESTMENT IN SECURITIES - 100.3% (Cost $632,804,135) | 700,179,938 |
NET OTHER ASSETS (LIABILITIES) - (0.3)% | (1,889,850) |
NET ASSETS - 100.0% | 698,290,088 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P 500 Index Contracts (United States) | 91 | Mar 2024 | 2,216,078 | 52,826 | 52,826 |
The notional amount of futures purchased as a percentage of Net Assets is 0.3% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 1,107,830 | 12,677,239 | 12,076,203 | 27,789 | - | - | 1,708,866 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 4,344,675 | 25,680,031 | 27,458,231 | 8,273 | - | - | 2,566,475 | 0.0% |
Total | 5,452,505 | 38,357,270 | 39,534,434 | 36,062 | - | - | 4,275,341 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 61,206,331 | 61,206,331 | - | - |
Consumer Discretionary | 75,815,546 | 75,815,546 | - | - |
Consumer Staples | 39,997,205 | 39,997,205 | - | - |
Energy | 27,996,780 | 27,996,780 | - | - |
Financials | 97,171,634 | 97,171,634 | - | - |
Health Care | 82,551,177 | 82,551,177 | - | - |
Industrials | 62,381,412 | 62,381,412 | - | - |
Information Technology | 197,534,030 | 197,534,030 | - | - |
Materials | 18,370,948 | 18,370,948 | - | - |
Real Estate | 17,750,136 | 17,750,136 | - | - |
Utilities | 15,129,398 | 15,129,398 | - | - |
Money Market Funds | 4,275,341 | 4,275,341 | - | - |
Total Investments in Securities: | 700,179,938 | 700,179,938 | - | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 52,826 | 52,826 | - | - |
Total Assets | 52,826 | 52,826 | - | - |
Total Derivative Instruments: | 52,826 | 52,826 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 52,826 | 0 |
Total Equity Risk | 52,826 | 0 |
Total Value of Derivatives | 52,826 | 0 |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $2,444,058) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $628,528,794) | $ | 695,904,597 | ||
Fidelity Central Funds (cost $4,275,341) | 4,275,341 | |||
Total Investment in Securities (cost $632,804,135) | $ | 700,179,938 | ||
Segregated cash with brokers for derivative instruments | 129,920 | |||
Cash | 282 | |||
Dividends receivable | 657,287 | |||
Distributions receivable from Fidelity Central Funds | 5,690 | |||
Other receivables | 4,293 | |||
Total assets | 700,977,410 | |||
Liabilities | ||||
Accrued management fee | $ | 84,219 | ||
Payable for daily variation margin on futures contracts | 36,628 | |||
Collateral on securities loaned | 2,566,475 | |||
Total Liabilities | 2,687,322 | |||
Net Assets | $ | 698,290,088 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 680,337,704 | ||
Total accumulated earnings (loss) | 17,952,384 | |||
Net Assets | $ | 698,290,088 | ||
Net Asset Value, offering price and redemption price per share ($698,290,088 ÷ 13,150,000 shares) | $ | 53.10 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 5,916,386 | ||
Income from Fidelity Central Funds (including $8,273 from security lending) | 36,062 | |||
Total Income | 5,952,448 | |||
Expenses | ||||
Management fee | $ | 612,636 | ||
Independent trustees' fees and expenses | 1,559 | |||
Total expenses before reductions | 614,195 | |||
Expense reductions | (158) | |||
Total expenses after reductions | 614,037 | |||
Net Investment income (loss) | 5,338,411 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (7,190,245) | |||
Redemptions in-kind | 2,847,601 | |||
Futures contracts | 135,291 | |||
Total net realized gain (loss) | (4,207,353) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 34,404,687 | |||
Futures contracts | (17,301) | |||
Total change in net unrealized appreciation (depreciation) | 34,387,386 | |||
Net gain (loss) | 30,180,033 | |||
Net increase (decrease) in net assets resulting from operations | $ | 35,518,444 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 5,338,411 | $ | 8,882,060 |
Net realized gain (loss) | (4,207,353) | 6,545,976 | ||
Change in net unrealized appreciation (depreciation) | 34,387,386 | 38,194,193 | ||
Net increase (decrease) in net assets resulting from operations | 35,518,444 | 53,622,229 | ||
Distributions to shareholders | (5,069,300) | (8,641,250) | ||
Share transactions | ||||
Proceeds from sales of shares | 154,539,576 | 80,746,346 | ||
Cost of shares redeemed | (14,558,954) | (97,539,980) | ||
Net increase (decrease) in net assets resulting from share transactions | 139,980,622 | (16,793,634) | ||
Total increase (decrease) in net assets | 170,429,766 | 28,187,345 | ||
Net Assets | ||||
Beginning of period | 527,860,322 | 499,672,977 | ||
End of period | $ | 698,290,088 | $ | 527,860,322 |
Other Information | ||||
Shares | ||||
Sold | 3,100,000 | 1,750,000 | ||
Redeemed | (300,000) | (2,200,000) | ||
Net increase (decrease) | 2,800,000 | (450,000) | ||
Fidelity® Value Factor ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 51.00 | $ | 46.27 | $ | 48.94 | $ | 34.85 | $ | 34.53 | $ | 33.90 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .47 | .87 | .79 | .64 | .73 | .70 | ||||||
Net realized and unrealized gain (loss) | 2.08 | 4.70 | (2.65) | 14.07 | .28 | .59 | ||||||
Total from investment operations | 2.55 | 5.57 | (1.86) | 14.71 | 1.01 | 1.29 | ||||||
Distributions from net investment income | (.45) | (.84) | (.81) | (.62) | (.69) | (.66) | ||||||
Total distributions | (.45) | (.84) | (.81) | (.62) | (.69) | (.66) | ||||||
Net asset value, end of period | $ | 53.10 | $ | 51.00 | $ | 46.27 | $ | 48.94 | $ | 34.85 | $ | 34.53 |
Total Return C,D,E | 5.03% | 12.33% | (3.86)% | 42.56% | 3.12% | 3.95% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .21% H | .29% | .29% | .29% | .29% | .29% | ||||||
Expenses net of fee waivers, if any | .21% H | .29% | .29% | .29% | .29% | .29% | ||||||
Expenses net of all reductions | .21% H | .29% | .29% | .29% | .29% | .29% | ||||||
Net investment income (loss) | 1.86% H | 1.91% | 1.61% | 1.50% | 2.13% | 2.09% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 698,290 | $ | 527,860 | $ | 499,673 | $ | 450,269 | $ | 189,916 | $ | 136,403 |
Portfolio turnover rate I,J | 39% H | 43% | 46% | 42% | 45% | 31% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Tax cost | Gross unrealized appreciation | Gross unrealized depreciation | Net unrealized appreciation (depreciation) | |
Fidelity Dividend ETF for Rising Rates | $478,717,853 | $94,918,026 | $(46,555,647) | $48,362,379 |
Fidelity High Dividend ETF | 2,023,198,566 | 319,586,059 | (117,708,821) | 201,877,238 |
Fidelity Low Volatility Factor ETF | 979,532,398 | 84,032,004 | (20,809,089) | 63,222,915 |
Fidelity Momentum Factor ETF | 159,209,696 | 33,754,375 | (1,927,388) | 31,826,987 |
Fidelity Quality Factor ETF | 560,253,026 | 63,478,256 | (14,482,049) | 48,996,207 |
Fidelity Small-Mid Multifactor ETF | 142,511,544 | 21,785,048 | (7,182,672) | 14,602,376 |
Fidelity Stocks for Inflation ETF | 117,347,603 | 20,876,278 | (4,784,569) | 16,091,709 |
Fidelity U.S. Multifactor ETF | 73,066,353 | 7,700,393 | (1,403,768) | 6,296,625 |
Fidelity Value Factor ETF | 633,116,943 | 95,384,438 | (28,268,617) | 67,115,821 |
Short-term | Long-term | Total capital loss carryforward | |
Fidelity Dividend ETF for Rising Rates | $(27,351,906) | $(32,384,438) | $(59,736,344) |
Fidelity High Dividend ETF | (37,157,065) | (34,342,060) | (71,499,125) |
Fidelity Low Volatility Factor ETF | (25,713,255) | (14,247,426) | (39,960,681) |
Fidelity Momentum Factor ETF | (32,199,777) | (340,311) | (32,540,088) |
Fidelity Quality Factor ETF | (17,277,163) | (6,444,006) | (23,721,169) |
Fidelity Small-Mid Multifactor ETF | (6,770,927) | (1,549,297) | (8,320,224) |
Fidelity Stocks for Inflation ETF | (17,304,578) | (3,509,690) | (20,814,268) |
Fidelity U.S. Multifactor ETF | (688,778) | (394,721) | (1,083,499) |
Fidelity Value Factor ETF | (28,724,493) | (16,664,483) | (45,388,976) |
Ordinary Losses | |
Fidelity High Dividend ETF | $(246,109) |
Fidelity Small-Mid Multifactor ETF | (2,680) |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Dividend ETF for Rising Rates | 5,860,055 | 6,561,050 |
Fidelity High Dividend ETF | 42,260,627 | 31,476,872 |
Fidelity Low Volatility Factor ETF | 119,709,830 | 110,368,927 |
Fidelity Momentum Factor ETF | 85,461,439 | 84,003,328 |
Fidelity Quality Factor ETF | 61,702,346 | 58,254,135 |
Fidelity Small-Mid Multifactor ETF | 34,468,656 | 33,122,882 |
Fidelity Stocks for Inflation ETF | 59,316,716 | 59,115,224 |
Fidelity U.S. Multifactor ETF | 8,734,864 | 7,654,645 |
Fidelity Value Factor ETF | 109,040,359 | 108,343,774 |
In-Kind Subscriptions ($) | In-Kind Redemptions ($) | |
Fidelity Dividend ETF for Rising Rates | - | 34,411,836 |
Fidelity High Dividend ETF | 401,899,816 | 6,240,084 |
Fidelity Low Volatility Factor ETF | 671,993,831 | 247,437,549 |
Fidelity Momentum Factor ETF | 38,863,923 | 17,212,682 |
Fidelity Quality Factor ETF | 267,181,171 | 4,889,213 |
Fidelity Small-Mid Multifactor ETF | 36,959,736 | 13,172,487 |
Fidelity Stocks for Inflation ETF | - | 22,915,728 |
Fidelity U.S. Multifactor ETF | 44,161,675 | 3,871,082 |
Fidelity Value Factor ETF | 153,315,522 | 14,442,842 |
Fee Rate | |
Fidelity Dividend ETF for Rising Rates | .15% |
Fidelity High Dividend ETF | .15% |
Fidelity Low Volatility Factor ETF | .15% |
Fidelity Momentum Factor ETF | .15% |
Fidelity Quality Factor ETF | .15% |
Fidelity Small-Mid Multifactor ETF | .15% |
Fidelity Stocks for Inflation ETF | .15% |
Fidelity U.S. Multifactor ETF | .15% |
Fidelity Value Factor ETF | .15% |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Dividend ETF for Rising Rates | $835 | $- | $- |
Fidelity High Dividend ETF | $7,997 | $- | $- |
Fidelity Low Volatility Factor ETF | $707 | $- | $- |
Fidelity Momentum Factor ETF | $14 | $- | $- |
Fidelity Quality Factor ETF | $395 | $- | $- |
Fidelity Small-Mid Multifactor ETF | $244 | $39 | $- |
Fidelity Value Factor ETF | $727 | $12 | $16,430 |
Custodian credits | |
Fidelity Dividend ETF for Rising Rates | $89 |
Fidelity High Dividend ETF | 22 |
Fidelity Low Volatility Factor ETF | 218 |
Fidelity Momentum Factor ETF | 432 |
Fidelity Quality Factor ETF | 239 |
Fidelity Small-Mid Multifactor ETF | 777 |
Fidelity Stocks for Inflation ETF | 160 |
Fidelity U.S. Multifactor ETF | 249 |
Fidelity Value Factor ETF | 158 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2023 to January 31, 2024). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2023 | Ending Account Value January 31, 2024 | Expenses Paid During Period- C August 1, 2023 to January 31, 2024 | |||||||
Fidelity® Dividend ETF for Rising Rates ** | .22% | |||||||||
Actual | $ 1,000 | $ 1,040.30 | $ 1.13 | |||||||
Hypothetical-B | $ 1,000 | $ 1,024.03 | $ 1.12 | |||||||
Fidelity® High Dividend ETF ** | .22% | |||||||||
Actual | $ 1,000 | $ 1,049.30 | $ 1.13 | |||||||
Hypothetical-B | $ 1,000 | $ 1,024.03 | $ 1.12 | |||||||
Fidelity® Low Volatility Factor ETF ** | .21% | |||||||||
Actual | $ 1,000 | $ 1,063.60 | $ 1.09 | |||||||
Hypothetical-B | $ 1,000 | $ 1,024.08 | $ 1.07 | |||||||
Fidelity® Momentum Factor ETF ** | .22% | |||||||||
Actual | $ 1,000 | $ 1,108.60 | $ 1.17 | |||||||
Hypothetical-B | $ 1,000 | $ 1,024.03 | $ 1.12 | |||||||
Fidelity® Quality Factor ETF ** | .21% | |||||||||
Actual | $ 1,000 | $ 1,053.60 | $ 1.08 | |||||||
Hypothetical-B | $ 1,000 | $ 1,024.08 | $ 1.07 | |||||||
Fidelity® Small-Mid Multifactor ETF ** | .22% | |||||||||
Actual | $ 1,000 | $ 1,037.40 | $ 1.13 | |||||||
Hypothetical-B | $ 1,000 | $ 1,024.03 | $ 1.12 | |||||||
Fidelity® Stocks for Inflation ETF ** | .22% | |||||||||
Actual | $ 1,000 | $ 1,086.80 | $ 1.15 | |||||||
Hypothetical-B | $ 1,000 | $ 1,024.03 | $ 1.12 | |||||||
Fidelity® U.S. Multifactor ETF ** | .21% | |||||||||
Actual | $ 1,000 | $ 1,071.70 | $ 1.09 | |||||||
Hypothetical-B | $ 1,000 | $ 1,024.08 | $ 1.07 | |||||||
Fidelity® Value Factor ETF ** | .21% | |||||||||
Actual | $ 1,000 | $ 1,050.30 | $ 1.08 | |||||||
Hypothetical-B | $ 1,000 | $ 1,024.08 | $ 1.07 | |||||||
Annualized Expense Ratio- A | Expenses Paid | |||||
Fidelity® Dividend ETF for Rising Rates | .15% | |||||
Actual | $ 0.77 | |||||
Hypothetical- B | $ 0.76 | |||||
Fidelity® High Dividend ETF | .15% | |||||
Actual | $ 0.77 | |||||
Hypothetical- B | $ 0.76 | |||||
Fidelity® Low Volatility Factor ETF | .15% | |||||
Actual | $ 0.78 | |||||
Hypothetical- B | $ 0.76 | |||||
Fidelity® Momentum Factor ETF | .15% | |||||
Actual | $ 0.80 | |||||
Hypothetical- B | $ 0.76 | |||||
Fidelity® Quality Factor ETF | .15% | |||||
Actual | $ 0.77 | |||||
Hypothetical- B | $ 0.76 | |||||
Fidelity® Small-Mid Multifactor ETF | .15% | |||||
Actual | $ 0.77 | |||||
Hypothetical- B | $ 0.76 | |||||
Fidelity® Stocks for Inflation ETF | .15% | |||||
Actual | $ 0.79 | |||||
Hypothetical- B | $ 0.76 | |||||
Fidelity® U.S. Multifactor ETF | .15% | |||||
Actual | $ 0.78 | |||||
Hypothetical- B | $ 0.76 | |||||
Fidelity® Value Factor ETF | .15% | |||||
Actual | $ 0.77 | |||||
Hypothetical- B | $ 0.76 | |||||
A Annualized expense ratio reflects expenses net of applicable fee waivers. | ||||||
B 5% return per year before expenses |
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Contents
Top Holdings (% of Fund's net assets) | ||
NVIDIA Corp. | 11.2 | |
Microsoft Corp. | 10.5 | |
Amazon.com, Inc. | 9.1 | |
Apple, Inc. | 9.0 | |
Alphabet, Inc. Class A | 6.5 | |
Meta Platforms, Inc. Class A | 4.8 | |
Eli Lilly & Co. | 2.7 | |
Netflix, Inc. | 2.5 | |
Uber Technologies, Inc. | 2.5 | |
Marvell Technology, Inc. | 2.0 | |
60.8 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 41.2 | |
Consumer Discretionary | 20.6 | |
Communication Services | 16.3 | |
Health Care | 9.7 | |
Industrials | 4.3 | |
Financials | 2.7 | |
Consumer Staples | 2.2 | |
Energy | 1.6 | |
Materials | 0.4 | |
Real Estate | 0.3 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 99.3% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 16.3% | |||
Entertainment - 3.0% | |||
Netflix, Inc. (a) | 50,736 | 28,620,685 | |
Roblox Corp. (a) | 23,903 | 927,675 | |
Roku, Inc. Class A (a) | 10,703 | 942,506 | |
Sea Ltd. ADR (a) | 58,731 | 2,240,000 | |
Sphere Entertainment Co. (a) | 12,284 | 434,608 | |
Take-Two Interactive Software, Inc. (a) | 2,753 | 454,052 | |
The Walt Disney Co. | 7,757 | 745,060 | |
34,364,586 | |||
Interactive Media & Services - 13.2% | |||
Alphabet, Inc. Class A (a) | 521,965 | 73,127,297 | |
Meta Platforms, Inc. Class A | 137,242 | 53,543,594 | |
Pinterest, Inc. Class A (a) | 8,682 | 325,315 | |
Snap, Inc. Class A (a) | 1,333,113 | 21,183,166 | |
148,179,372 | |||
Wireless Telecommunication Services - 0.1% | |||
T-Mobile U.S., Inc. | 6,035 | 973,023 | |
TOTAL COMMUNICATION SERVICES | 183,516,981 | ||
CONSUMER DISCRETIONARY - 20.6% | |||
Automobiles - 1.5% | |||
Rivian Automotive, Inc. (a) | 163,163 | 2,498,026 | |
Tesla, Inc. (a) | 77,681 | 14,548,874 | |
17,046,900 | |||
Broadline Retail - 9.8% | |||
Alibaba Group Holding Ltd. sponsored ADR | 29,006 | 2,093,363 | |
Amazon.com, Inc. (a) | 657,947 | 102,113,374 | |
Dollarama, Inc. | 6,100 | 447,683 | |
Kohl's Corp. | 31,835 | 820,070 | |
Ollie's Bargain Outlet Holdings, Inc. (a) | 9,599 | 690,456 | |
PDD Holdings, Inc. ADR (a) | 32,830 | 4,165,142 | |
110,330,088 | |||
Diversified Consumer Services - 0.1% | |||
New Oriental Education & Technology Group, Inc. sponsored ADR (a) | 18,613 | 1,426,873 | |
Hotels, Restaurants & Leisure - 2.7% | |||
Airbnb, Inc. Class A (a) | 57,620 | 8,305,347 | |
Caesars Entertainment, Inc. (a) | 53,984 | 2,368,278 | |
Chipotle Mexican Grill, Inc. (a) | 1,754 | 4,224,983 | |
Draftkings Holdings, Inc. (a) | 44,961 | 1,755,727 | |
Las Vegas Sands Corp. | 6,534 | 319,643 | |
Light & Wonder, Inc. Class A (a) | 5,614 | 451,253 | |
Marriott International, Inc. Class A | 10,399 | 2,492,952 | |
McDonald's Corp. | 5,293 | 1,549,367 | |
Penn Entertainment, Inc. (a) | 91,247 | 2,057,620 | |
Planet Fitness, Inc. (a) | 4,473 | 303,090 | |
Restaurant Brands International, Inc. | 8,632 | 673,828 | |
Starbucks Corp. | 39,874 | 3,709,478 | |
Sweetgreen, Inc. Class A (a) | 164,380 | 1,755,578 | |
Yum! Brands, Inc. | 2,211 | 286,302 | |
30,253,446 | |||
Household Durables - 0.1% | |||
SharkNinja Hong Kong Co. Ltd. | 20,746 | 969,253 | |
Specialty Retail - 3.9% | |||
Abercrombie & Fitch Co. Class A (a) | 59,296 | 6,042,262 | |
American Eagle Outfitters, Inc. | 262,803 | 5,208,755 | |
Aritzia, Inc. (a) | 42,936 | 1,044,618 | |
Dick's Sporting Goods, Inc. | 200 | 29,814 | |
Five Below, Inc. (a) | 18,081 | 3,244,816 | |
Foot Locker, Inc. | 10,386 | 292,470 | |
Gap, Inc. | 28,646 | 535,394 | |
Lowe's Companies, Inc. | 56,912 | 12,113,150 | |
RH (a) | 19,678 | 4,987,979 | |
TJX Companies, Inc. | 70,539 | 6,694,856 | |
Victoria's Secret & Co. (a) | 15,575 | 405,729 | |
Warby Parker, Inc. (a) | 128,725 | 1,641,244 | |
Wayfair LLC Class A (a) | 7,730 | 388,433 | |
Williams-Sonoma, Inc. | 2,225 | 430,293 | |
43,059,813 | |||
Textiles, Apparel & Luxury Goods - 2.5% | |||
Crocs, Inc. (a) | 25,811 | 2,619,300 | |
Deckers Outdoor Corp. (a) | 7,643 | 5,760,758 | |
lululemon athletica, Inc. (a) | 14,457 | 6,560,876 | |
NIKE, Inc. Class B | 80,569 | 8,180,171 | |
On Holding AG (a) | 13,340 | 354,310 | |
PVH Corp. | 33,783 | 4,062,744 | |
Ralph Lauren Corp. | 3,079 | 442,360 | |
27,980,519 | |||
TOTAL CONSUMER DISCRETIONARY | 231,066,892 | ||
CONSUMER STAPLES - 2.2% | |||
Beverages - 0.6% | |||
Celsius Holdings, Inc. (a) | 112,541 | 5,615,796 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 1,319 | 323,261 | |
PepsiCo, Inc. | 6,721 | 1,132,690 | |
7,071,747 | |||
Consumer Staples Distribution & Retail - 0.9% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 30 | 1,930 | |
Costco Wholesale Corp. | 727 | 505,178 | |
Dollar Tree, Inc. (a) | 18,630 | 2,433,451 | |
Maplebear, Inc. (NASDAQ) | 12,685 | 310,402 | |
Target Corp. | 17,075 | 2,374,791 | |
Walmart, Inc. | 23,758 | 3,926,010 | |
9,551,762 | |||
Food Products - 0.2% | |||
Lamb Weston Holdings, Inc. | 10,635 | 1,089,449 | |
The Hershey Co. | 2,026 | 392,112 | |
Tyson Foods, Inc. Class A | 5,920 | 324,179 | |
1,805,740 | |||
Household Products - 0.2% | |||
Procter & Gamble Co. | 15,594 | 2,450,441 | |
Personal Care Products - 0.3% | |||
Estee Lauder Companies, Inc. Class A | 9,276 | 1,224,339 | |
Kenvue, Inc. | 64,916 | 1,347,656 | |
Oddity Tech Ltd. | 16,813 | 694,377 | |
3,266,372 | |||
Tobacco - 0.0% | |||
Philip Morris International, Inc. | 4,698 | 426,813 | |
TOTAL CONSUMER STAPLES | 24,572,875 | ||
ENERGY - 1.6% | |||
Energy Equipment & Services - 0.0% | |||
Secure Energy Services, Inc. | 47,335 | 362,991 | |
Oil, Gas & Consumable Fuels - 1.6% | |||
Cameco Corp. | 14,469 | 690,814 | |
Cheniere Energy, Inc. | 4,730 | 775,673 | |
Diamondback Energy, Inc. | 22,006 | 3,383,202 | |
EOG Resources, Inc. | 34,068 | 3,876,598 | |
Exxon Mobil Corp. | 26,998 | 2,775,664 | |
Hess Corp. | 23,493 | 3,301,471 | |
Northern Oil & Gas, Inc. | 8,086 | 270,881 | |
Occidental Petroleum Corp. | 39,204 | 2,256,974 | |
17,331,277 | |||
TOTAL ENERGY | 17,694,268 | ||
FINANCIALS - 2.7% | |||
Banks - 0.1% | |||
Citigroup, Inc. | 12,679 | 712,179 | |
HDFC Bank Ltd. sponsored ADR | 8,684 | 481,875 | |
1,194,054 | |||
Capital Markets - 0.2% | |||
Coinbase Global, Inc. (a) | 3,554 | 455,623 | |
Goldman Sachs Group, Inc. | 1,702 | 653,585 | |
Morgan Stanley | 7,528 | 656,743 | |
1,765,951 | |||
Consumer Finance - 0.4% | |||
American Express Co. | 20,300 | 4,075,022 | |
SoFi Technologies, Inc. (a) | 100 | 783 | |
4,075,805 | |||
Financial Services - 1.9% | |||
Berkshire Hathaway, Inc. Class B (a) | 1,272 | 488,117 | |
Block, Inc. Class A (a) | 48,816 | 3,173,528 | |
MasterCard, Inc. Class A | 32,711 | 14,694,763 | |
Visa, Inc. Class A | 11,922 | 3,257,806 | |
21,614,214 | |||
Insurance - 0.1% | |||
Progressive Corp. | 7,686 | 1,370,030 | |
TOTAL FINANCIALS | 30,020,054 | ||
HEALTH CARE - 9.7% | |||
Biotechnology - 1.5% | |||
Alnylam Pharmaceuticals, Inc. (a) | 14,490 | 2,505,466 | |
Amgen, Inc. | 3,304 | 1,038,315 | |
Argenx SE ADR (a) | 15 | 5,708 | |
Ascendis Pharma A/S sponsored ADR (a) | 1,781 | 231,405 | |
Gilead Sciences, Inc. | 4,963 | 388,404 | |
Karuna Therapeutics, Inc. (a) | 15 | 4,701 | |
Moderna, Inc. (a) | 2,849 | 287,891 | |
Moonlake Immunotherapeutics (a) | 8,474 | 473,527 | |
Regeneron Pharmaceuticals, Inc. (a) | 8,846 | 8,339,832 | |
Vertex Pharmaceuticals, Inc. (a) | 7,617 | 3,301,055 | |
16,576,304 | |||
Health Care Equipment & Supplies - 1.5% | |||
Axonics, Inc. (a) | 55 | 3,733 | |
Boston Scientific Corp. (a) | 76,717 | 4,853,117 | |
DexCom, Inc. (a) | 50,599 | 6,140,189 | |
Glaukos Corp. (a) | 3,831 | 341,074 | |
Inspire Medical Systems, Inc. (a) | 4,849 | 1,022,509 | |
Insulet Corp. (a) | 6,753 | 1,288,945 | |
Intuitive Surgical, Inc. (a) | 829 | 313,544 | |
Shockwave Medical, Inc. (a) | 2,642 | 597,753 | |
Stryker Corp. | 7,381 | 2,476,178 | |
17,037,042 | |||
Health Care Providers & Services - 2.3% | |||
Alignment Healthcare, Inc. (a) | 8,727 | 58,471 | |
Cigna Group | 5 | 1,505 | |
Guardant Health, Inc. (a) | 50,085 | 1,098,364 | |
Humana, Inc. | 6,189 | 2,339,813 | |
McKesson Corp. | 701 | 350,423 | |
Surgery Partners, Inc. (a) | 15,800 | 484,902 | |
UnitedHealth Group, Inc. | 42,806 | 21,905,542 | |
26,239,020 | |||
Life Sciences Tools & Services - 0.4% | |||
Danaher Corp. | 15,458 | 3,708,529 | |
Thermo Fisher Scientific, Inc. | 2,606 | 1,404,582 | |
5,113,111 | |||
Pharmaceuticals - 4.0% | |||
Eli Lilly & Co. | 46,294 | 29,887,869 | |
Novo Nordisk A/S Series B sponsored ADR | 57,921 | 6,645,856 | |
Zoetis, Inc. Class A | 41,877 | 7,864,919 | |
44,398,644 | |||
TOTAL HEALTH CARE | 109,364,121 | ||
INDUSTRIALS - 4.3% | |||
Aerospace & Defense - 0.7% | |||
Howmet Aerospace, Inc. | 26,281 | 1,478,569 | |
L3Harris Technologies, Inc. | 2,825 | 588,787 | |
Northrop Grumman Corp. | 936 | 418,167 | |
Spirit AeroSystems Holdings, Inc. Class A (a) | 13,127 | 360,467 | |
The Boeing Co. (a) | 22,787 | 4,808,968 | |
TransDigm Group, Inc. | 525 | 573,657 | |
8,228,615 | |||
Air Freight & Logistics - 0.1% | |||
FedEx Corp. | 4,080 | 984,463 | |
Commercial Services & Supplies - 0.1% | |||
ACV Auctions, Inc. Class A (a) | 42,315 | 548,826 | |
Electrical Equipment - 0.1% | |||
Eaton Corp. PLC | 5,827 | 1,433,908 | |
Generac Holdings, Inc. (a) | 1,016 | 115,489 | |
1,549,397 | |||
Ground Transportation - 2.8% | |||
Canadian Pacific Kansas City Ltd. | 4,071 | 327,593 | |
Lyft, Inc. (a) | 258,075 | 3,223,357 | |
Uber Technologies, Inc. (a) | 424,996 | 27,739,489 | |
31,290,439 | |||
Industrial Conglomerates - 0.1% | |||
General Electric Co. | 12,031 | 1,593,145 | |
Passenger Airlines - 0.1% | |||
Alaska Air Group, Inc. (a) | 8,604 | 308,281 | |
Southwest Airlines Co. | 13,441 | 401,751 | |
710,032 | |||
Trading Companies & Distributors - 0.3% | |||
Ferguson PLC | 1,668 | 313,350 | |
FTAI Aviation Ltd. | 47,553 | 2,565,484 | |
Xometry, Inc. (a) | 9,010 | 289,942 | |
3,168,776 | |||
TOTAL INDUSTRIALS | 48,073,693 | ||
INFORMATION TECHNOLOGY - 41.2% | |||
Communications Equipment - 0.1% | |||
Arista Networks, Inc. (a) | 2,764 | 714,992 | |
IT Services - 0.6% | |||
MongoDB, Inc. Class A (a) | 5,383 | 2,155,999 | |
Okta, Inc. (a) | 40,598 | 3,355,425 | |
Shopify, Inc. Class A (a) | 7,674 | 614,342 | |
Snowflake, Inc. (a) | 5,121 | 1,001,872 | |
7,127,638 | |||
Semiconductors & Semiconductor Equipment - 17.8% | |||
Advanced Micro Devices, Inc. (a) | 29,626 | 4,967,984 | |
ASML Holding NV (depository receipt) | 2,051 | 1,784,001 | |
Broadcom, Inc. | 546 | 644,280 | |
GlobalFoundries, Inc. (a) | 129,204 | 7,103,636 | |
Impinj, Inc. (a) | 3,252 | 315,379 | |
Marvell Technology, Inc. | 336,658 | 22,791,747 | |
Micron Technology, Inc. | 7,800 | 668,850 | |
Monolithic Power Systems, Inc. | 5,222 | 3,147,404 | |
NVIDIA Corp. | 204,076 | 125,561,845 | |
NXP Semiconductors NV | 80,907 | 17,036,587 | |
ON Semiconductor Corp. (a) | 105,422 | 7,498,667 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 53,772 | 6,074,085 | |
Teradyne, Inc. | 26,173 | 2,528,050 | |
200,122,515 | |||
Software - 13.5% | |||
Adobe, Inc. (a) | 3,093 | 1,910,794 | |
Bill Holdings, Inc. (a) | 18,618 | 1,453,135 | |
Datadog, Inc. Class A (a) | 14,774 | 1,838,477 | |
HubSpot, Inc. (a) | 7,758 | 4,740,138 | |
Intuit, Inc. | 7,026 | 4,435,725 | |
Microsoft Corp. | 296,592 | 117,919,047 | |
Oracle Corp. | 7,773 | 868,244 | |
Salesforce, Inc. (a) | 47,094 | 13,237,652 | |
ServiceNow, Inc. (a) | 4,134 | 3,164,164 | |
Zoom Video Communications, Inc. Class A (a) | 24,937 | 1,611,180 | |
151,178,556 | |||
Technology Hardware, Storage & Peripherals - 9.2% | |||
Apple, Inc. | 549,705 | 101,365,602 | |
Dell Technologies, Inc. | 20,137 | 1,668,955 | |
103,034,557 | |||
TOTAL INFORMATION TECHNOLOGY | 462,178,258 | ||
MATERIALS - 0.4% | |||
Chemicals - 0.0% | |||
Linde PLC | 1,321 | 534,780 | |
Metals & Mining - 0.4% | |||
ATI, Inc. (a) | 18,231 | 745,101 | |
Carpenter Technology Corp. | 14,458 | 890,468 | |
Freeport-McMoRan, Inc. | 64,382 | 2,555,322 | |
4,190,891 | |||
TOTAL MATERIALS | 4,725,671 | ||
REAL ESTATE - 0.3% | |||
Equity Real Estate Investment Trusts (REITs) - 0.2% | |||
Digital Realty Trust, Inc. | 2,153 | 302,410 | |
Welltower, Inc. | 17,855 | 1,544,636 | |
1,847,046 | |||
Real Estate Management & Development - 0.1% | |||
Zillow Group, Inc. Class C (a) | 18,930 | 1,075,981 | |
TOTAL REAL ESTATE | 2,923,027 | ||
TOTAL COMMON STOCKS (Cost $882,800,251) | 1,114,135,840 | ||
Money Market Funds - 1.6% | |||
Shares | Value ($) | ||
State Street Institutional Treasury Plus Money Market Fund Trust Class 5.23% (b) (Cost $18,044,267) | 18,044,267 | 18,044,267 | |
TOTAL INVESTMENT IN SECURITIES - 100.9% (Cost $900,844,518) | 1,132,180,107 |
NET OTHER ASSETS (LIABILITIES) - (0.9)% | (10,136,364) |
NET ASSETS - 100.0% | 1,122,043,743 |
(a) | Non-income producing |
(b) | The rate quoted is the annualized seven-day yield of the fund at period end. |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 183,516,981 | 183,516,981 | - | - |
Consumer Discretionary | 231,066,892 | 231,066,892 | - | - |
Consumer Staples | 24,572,875 | 24,572,875 | - | - |
Energy | 17,694,268 | 17,694,268 | - | - |
Financials | 30,020,054 | 30,020,054 | - | - |
Health Care | 109,364,121 | 109,364,121 | - | - |
Industrials | 48,073,693 | 48,073,693 | - | - |
Information Technology | 462,178,258 | 462,178,258 | - | - |
Materials | 4,725,671 | 4,725,671 | - | - |
Real Estate | 2,923,027 | 2,923,027 | - | - |
Money Market Funds | 18,044,267 | 18,044,267 | - | - |
Total Investments in Securities: | 1,132,180,107 | 1,132,180,107 | - | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $900,844,518): | $ | 1,132,180,107 | ||
Cash | 108 | |||
Foreign currency held at value (cost $161) | 161 | |||
Receivable for investments sold | 2,831,243 | |||
Receivable for fund shares sold | 4,276,186 | |||
Dividends receivable | 153,386 | |||
Total assets | 1,139,441,191 | |||
Liabilities | ||||
Payable for investments purchased | $ | 16,872,103 | ||
Accrued management fee | 525,345 | |||
Total Liabilities | 17,397,448 | |||
Net Assets | $ | 1,122,043,743 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 975,219,147 | ||
Total accumulated earnings (loss) | 146,824,596 | |||
Net Assets | $ | 1,122,043,743 | ||
Net Asset Value, offering price and redemption price per share ($1,122,043,743 ÷ 32,800,000 shares) | $ | 34.21 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 2,282,877 | ||
Expenses | ||||
Management fee | $ | 2,569,969 | ||
Independent trustees' fees and expenses | 2,242 | |||
Total expenses before reductions | 2,572,211 | |||
Expense reductions | (203) | |||
Total expenses after reductions | 2,572,008 | |||
Net Investment income (loss) | (289,131) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Redemptions in-kind | 4,541,174 | |||
Unaffiliated issuers | (5,079,037) | |||
Foreign currency transactions | (155) | |||
Futures contracts | (9,198) | |||
Total net realized gain (loss) | (547,216) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 91,976,471 | |||
Assets and liabilities in foreign currencies | (82) | |||
Futures contracts | 692 | |||
Total change in net unrealized appreciation (depreciation) | 91,977,081 | |||
Net gain (loss) | 91,429,865 | |||
Net increase (decrease) in net assets resulting from operations | $ | 91,140,734 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (289,131) | $ | 17,382 |
Net realized gain (loss) | (547,216) | (25,771,564) | ||
Change in net unrealized appreciation (depreciation) | 91,977,081 | 168,911,281 | ||
Net increase (decrease) in net assets resulting from operations | 91,140,734 | 143,157,099 | ||
Distributions to shareholders | (236,800) | - | ||
Share transactions | ||||
Proceeds from sales of shares | 270,883,796 | 296,642,887 | ||
Cost of shares redeemed | (20,127,073) | (22,813,838) | ||
Net increase (decrease) in net assets resulting from share transactions | 250,756,723 | 273,829,049 | ||
Total increase (decrease) in net assets | 341,660,657 | 416,986,148 | ||
Net Assets | ||||
Beginning of period | 780,383,086 | 363,396,938 | ||
End of period | $ | 1,122,043,743 | $ | 780,383,086 |
Other Information | ||||
Shares | ||||
Sold | 8,525,000 | 11,300,000 | ||
Redeemed | (675,000) | (925,000) | ||
Net increase (decrease) | 7,850,000 | 10,375,000 | ||
Fidelity® Blue Chip Growth ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 A | ||||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 31.28 | $ | 24.93 | $ | 32.77 | $ | 22.74 | $ | 20.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | (.01) | - D | (.05) | (.08) | (.01) | |||||
Net realized and unrealized gain (loss) | 2.95 | 6.35 | (7.79) | 10.11 | 2.75 | |||||
Total from investment operations | 2.94 | 6.35 | (7.84) | 10.03 | 2.74 | |||||
Distributions from net investment income | (.01) | - | - | - D | - | |||||
Total distributions | (.01) | - | - | - D | - | |||||
Net asset value, end of period | $ | 34.21 | $ | 31.28 | $ | 24.93 | $ | 32.77 | $ | 22.74 |
Total Return E,F,G | 9.40% | 25.44% | (23.92)% | 44.14% | 13.68% | |||||
Ratios to Average Net Assets C,H,I | ||||||||||
Expenses before reductions | .59% J | .59% | .59% | .59% | .59% J | |||||
Expenses net of fee waivers, if any | .59% J | .59% | .59% | .59% | .59% J | |||||
Expenses net of all reductions | .59% J | .59% | .59% | .59% | .59% J | |||||
Net investment income (loss) | (.07)% J | -% K | (.17)% | (.27)% | (.34)% J | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 1,122,044 | $ | 780,383 | $ | 363,397 | $ | 407,189 | $ | 41,494 |
Portfolio turnover rate L,M | 32% J | 30% | 57% | 63% | 11% N |
Top Holdings (% of Fund's net assets) | ||
Exxon Mobil Corp. | 4.4 | |
Berkshire Hathaway, Inc. Class B | 4.3 | |
Comcast Corp. Class A | 3.7 | |
JPMorgan Chase & Co. | 3.7 | |
Cigna Group | 2.9 | |
The Travelers Companies, Inc. | 2.8 | |
Centene Corp. | 2.6 | |
Bank of America Corp. | 2.6 | |
PG&E Corp. | 2.4 | |
Cisco Systems, Inc. | 2.3 | |
31.7 | ||
Market Sectors (% of Fund's net assets) | ||
Financials | 23.9 | |
Health Care | 17.1 | |
Consumer Staples | 13.4 | |
Utilities | 9.6 | |
Energy | 7.7 | |
Information Technology | 7.5 | |
Industrials | 7.0 | |
Communication Services | 5.7 | |
Consumer Discretionary | 2.8 | |
Materials | 2.2 | |
Real Estate | 1.0 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 97.9% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 5.7% | |||
Entertainment - 2.0% | |||
The Walt Disney Co. | 24,881 | 2,389,820 | |
Media - 3.7% | |||
Comcast Corp. Class A | 95,196 | 4,430,422 | |
TOTAL COMMUNICATION SERVICES | 6,820,242 | ||
CONSUMER DISCRETIONARY - 2.8% | |||
Diversified Consumer Services - 1.8% | |||
H&R Block, Inc. | 46,636 | 2,184,430 | |
Specialty Retail - 1.0% | |||
Ross Stores, Inc. | 8,649 | 1,213,282 | |
TOTAL CONSUMER DISCRETIONARY | 3,397,712 | ||
CONSUMER STAPLES - 13.4% | |||
Beverages - 3.1% | |||
Coca-Cola European Partners PLC | 14,648 | 1,009,247 | |
Diageo PLC sponsored ADR | 2,156 | 311,175 | |
Keurig Dr. Pepper, Inc. | 29,233 | 919,086 | |
The Coca-Cola Co. | 25,515 | 1,517,887 | |
3,757,395 | |||
Consumer Staples Distribution & Retail - 1.6% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 10,362 | 666,691 | |
U.S. Foods Holding Corp. (a) | 26,268 | 1,208,591 | |
1,875,282 | |||
Food Products - 3.4% | |||
Lamb Weston Holdings, Inc. | 5,758 | 589,850 | |
Mondelez International, Inc. | 35,158 | 2,646,343 | |
Tyson Foods, Inc. Class A | 15,792 | 864,770 | |
4,100,963 | |||
Household Products - 2.2% | |||
Procter & Gamble Co. | 12,008 | 1,886,937 | |
The Clorox Co. | 5,168 | 750,652 | |
2,637,589 | |||
Personal Care Products - 3.1% | |||
Haleon PLC ADR | 103,967 | 852,529 | |
Kenvue, Inc. | 108,135 | 2,244,883 | |
Unilever PLC sponsored ADR | 14,211 | 691,934 | |
3,789,346 | |||
TOTAL CONSUMER STAPLES | 16,160,575 | ||
ENERGY - 7.7% | |||
Oil, Gas & Consumable Fuels - 7.7% | |||
Antero Resources Corp. (a) | 16,858 | 376,608 | |
ConocoPhillips Co. | 1,682 | 188,165 | |
Equinor ASA sponsored ADR | 27,781 | 796,481 | |
Exxon Mobil Corp. | 51,452 | 5,289,780 | |
Occidental Petroleum Corp. | 14,827 | 853,590 | |
Ovintiv, Inc. | 16,967 | 719,740 | |
Shell PLC ADR | 16,150 | 1,015,997 | |
9,240,361 | |||
FINANCIALS - 23.9% | |||
Banks - 10.8% | |||
Bank of America Corp. | 92,545 | 3,147,455 | |
Cullen/Frost Bankers, Inc. | 2,405 | 255,219 | |
JPMorgan Chase & Co. | 25,346 | 4,419,329 | |
M&T Bank Corp. | 5,583 | 771,012 | |
PNC Financial Services Group, Inc. | 8,111 | 1,226,464 | |
U.S. Bancorp | 16,659 | 692,015 | |
Wells Fargo & Co. | 49,547 | 2,486,268 | |
12,997,762 | |||
Capital Markets - 3.1% | |||
Affiliated Managers Group, Inc. | 5,270 | 784,387 | |
BlackRock, Inc. Class A | 2,930 | 2,268,728 | |
Northern Trust Corp. | 8,472 | 674,710 | |
3,727,825 | |||
Financial Services - 4.3% | |||
Berkshire Hathaway, Inc. Class B (a) | 13,586 | 5,213,492 | |
Insurance - 5.7% | |||
Chubb Ltd. | 8,466 | 2,074,170 | |
The Travelers Companies, Inc. | 16,070 | 3,396,555 | |
Willis Towers Watson PLC | 5,564 | 1,370,413 | |
6,841,138 | |||
TOTAL FINANCIALS | 28,780,217 | ||
HEALTH CARE - 17.1% | |||
Health Care Providers & Services - 10.3% | |||
Centene Corp. (a) | 41,956 | 3,159,706 | |
Cigna Group | 11,526 | 3,468,750 | |
CVS Health Corp. | 24,102 | 1,792,466 | |
Elevance Health, Inc. | 3,510 | 1,731,974 | |
UnitedHealth Group, Inc. | 4,282 | 2,191,271 | |
12,344,167 | |||
Pharmaceuticals - 6.8% | |||
AstraZeneca PLC sponsored ADR | 28,571 | 1,903,971 | |
Bristol-Myers Squibb Co. | 45,014 | 2,199,834 | |
Johnson & Johnson | 13,700 | 2,176,930 | |
Sanofi SA sponsored ADR | 38,546 | 1,923,445 | |
8,204,180 | |||
TOTAL HEALTH CARE | 20,548,347 | ||
INDUSTRIALS - 7.0% | |||
Aerospace & Defense - 3.4% | |||
L3Harris Technologies, Inc. | 5,228 | 1,089,620 | |
Lockheed Martin Corp. | 2,655 | 1,140,084 | |
Northrop Grumman Corp. | 4,184 | 1,869,244 | |
4,098,948 | |||
Electrical Equipment - 0.5% | |||
Eaton Corp. PLC | 1,879 | 462,384 | |
Regal Rexnord Corp. | 1,567 | 209,132 | |
671,516 | |||
Machinery - 2.5% | |||
Deere & Co. | 4,640 | 1,826,211 | |
Oshkosh Corp. | 1,607 | 176,931 | |
Pentair PLC | 13,150 | 962,186 | |
2,965,328 | |||
Professional Services - 0.6% | |||
Maximus, Inc. | 8,865 | 719,129 | |
TOTAL INDUSTRIALS | 8,454,921 | ||
INFORMATION TECHNOLOGY - 7.5% | |||
Communications Equipment - 2.3% | |||
Cisco Systems, Inc. | 55,003 | 2,760,051 | |
Electronic Equipment, Instruments & Components - 0.2% | |||
TE Connectivity Ltd. | 1,699 | 241,581 | |
IT Services - 2.5% | |||
Amdocs Ltd. | 16,366 | 1,500,435 | |
Cognizant Technology Solutions Corp. Class A | 19,599 | 1,511,475 | |
3,011,910 | |||
Semiconductors & Semiconductor Equipment - 1.1% | |||
Broadcom, Inc. | 194 | 228,920 | |
Micron Technology, Inc. | 9,873 | 846,610 | |
NXP Semiconductors NV | 1,164 | 245,103 | |
1,320,633 | |||
Software - 1.4% | |||
Gen Digital, Inc. | 44,332 | 1,040,915 | |
Open Text Corp. | 14,811 | 645,908 | |
1,686,823 | |||
TOTAL INFORMATION TECHNOLOGY | 9,020,998 | ||
MATERIALS - 2.2% | |||
Chemicals - 1.3% | |||
CF Industries Holdings, Inc. | 11,832 | 893,434 | |
Nutrien Ltd. | 14,451 | 720,671 | |
1,614,105 | |||
Containers & Packaging - 0.6% | |||
Crown Holdings, Inc. | 8,547 | 756,410 | |
Metals & Mining - 0.3% | |||
Newmont Corp. | 8,528 | 294,301 | |
TOTAL MATERIALS | 2,664,816 | ||
REAL ESTATE - 1.0% | |||
Equity Real Estate Investment Trusts (REITs) - 0.7% | |||
Crown Castle, Inc. | 7,515 | 813,499 | |
Real Estate Management & Development - 0.3% | |||
CBRE Group, Inc. (a) | 4,618 | 398,580 | |
TOTAL REAL ESTATE | 1,212,079 | ||
UTILITIES - 9.6% | |||
Electric Utilities - 6.3% | |||
Constellation Energy Corp. | 12,008 | 1,464,976 | |
Edison International | 22,309 | 1,505,411 | |
NextEra Energy, Inc. | 10,193 | 597,616 | |
PG&E Corp. | 167,421 | 2,824,392 | |
Southern Co. | 15,956 | 1,109,261 | |
7,501,656 | |||
Independent Power and Renewable Electricity Producers - 0.5% | |||
The AES Corp. | 35,853 | 598,028 | |
Multi-Utilities - 2.8% | |||
Dominion Energy, Inc. | 25,075 | 1,146,429 | |
National Grid PLC sponsored ADR | 9,738 | 657,607 | |
Sempra | 21,858 | 1,564,158 | |
3,368,194 | |||
TOTAL UTILITIES | 11,467,878 | ||
TOTAL COMMON STOCKS (Cost $106,581,589) | 117,768,146 | ||
Money Market Funds - 0.6% | |||
Shares | Value ($) | ||
State Street Institutional Treasury Plus Money Market Fund Trust Class 5.23% (b) (Cost $786,636) | 786,636 | 786,636 | |
TOTAL INVESTMENT IN SECURITIES - 98.5% (Cost $107,368,225) | 118,554,782 |
NET OTHER ASSETS (LIABILITIES) - 1.5% | 1,794,543 |
NET ASSETS - 100.0% | 120,349,325 |
(a) | Non-income producing |
(b) | The rate quoted is the annualized seven-day yield of the fund at period end. |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 6,820,242 | 6,820,242 | - | - |
Consumer Discretionary | 3,397,712 | 3,397,712 | - | - |
Consumer Staples | 16,160,575 | 16,160,575 | - | - |
Energy | 9,240,361 | 9,240,361 | - | - |
Financials | 28,780,217 | 28,780,217 | - | - |
Health Care | 20,548,347 | 20,548,347 | - | - |
Industrials | 8,454,921 | 8,454,921 | - | - |
Information Technology | 9,020,998 | 9,020,998 | - | - |
Materials | 2,664,816 | 2,664,816 | - | - |
Real Estate | 1,212,079 | 1,212,079 | - | - |
Utilities | 11,467,878 | 11,467,878 | - | - |
Money Market Funds | 786,636 | 786,636 | - | - |
Total Investments in Securities: | 118,554,782 | 118,554,782 | - | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $107,368,225): | $ | 118,554,782 | ||
Receivable for investments sold | 2,831,718 | |||
Dividends receivable | 88,194 | |||
Total assets | 121,474,694 | |||
Liabilities | ||||
Payable for investments purchased | $ | 1,066,523 | ||
Accrued management fee | 58,846 | |||
Total Liabilities | 1,125,369 | |||
Net Assets | $ | 120,349,325 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 111,500,133 | ||
Total accumulated earnings (loss) | 8,849,192 | |||
Net Assets | $ | 120,349,325 | ||
Net Asset Value, offering price and redemption price per share ($120,349,325 ÷ 4,125,000 shares) | $ | 29.18 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 1,428,333 | ||
Expenses | ||||
Management fee | $ | 350,741 | ||
Independent trustees' fees and expenses | 354 | |||
Total Expenses | 351,095 | |||
Net Investment income (loss) | 1,077,238 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Redemptions in-kind | 1,543,091 | |||
Unaffiliated issuers | (1,371,820) | |||
Total net realized gain (loss) | 171,271 | |||
Change in net unrealized appreciation (depreciation) on investment securities | 583,823 | |||
Net gain (loss) | 755,094 | |||
Net increase (decrease) in net assets resulting from operations | $ | 1,832,332 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 1,077,238 | $ | 1,948,139 |
Net realized gain (loss) | 171,271 | 2,342,593 | ||
Change in net unrealized appreciation (depreciation) | 583,823 | 1,420,433 | ||
Net increase (decrease) in net assets resulting from operations | 1,832,332 | 5,711,165 | ||
Distributions to shareholders | (1,086,825) | (2,839,975) | ||
Share transactions | ||||
Proceeds from sales of shares | 2,846,287 | 32,169,213 | ||
Cost of shares redeemed | (11,740,576) | (20,717,724) | ||
Net increase (decrease) in net assets resulting from share transactions | (8,894,289) | 11,451,489 | ||
Total increase (decrease) in net assets | (8,148,782) | 14,322,679 | ||
Net Assets | ||||
Beginning of period | 128,498,107 | 114,175,428 | ||
End of period | $ | 120,349,325 | $ | 128,498,107 |
Other Information | ||||
Shares | ||||
Sold | 100,000 | 1,125,000 | ||
Redeemed | (425,000) | (750,000) | ||
Net increase (decrease) | (325,000) | 375,000 | ||
Fidelity® Blue Chip Value ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 A | ||||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 28.88 | $ | 28.02 | $ | 28.63 | $ | 20.23 | $ | 20.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | .26 | .43 | .39 | .32 | .03 | |||||
Net realized and unrealized gain (loss) | .30 | 1.04 | (.03) | 8.32 | .21 | |||||
Total from investment operations | .56 | 1.47 | .36 | 8.64 | .24 | |||||
Distributions from net investment income | (.26) | (.42) | (.39) | (.24) | (.01) | |||||
Distributions from net realized gain | - | (.19) | (.58) | - | - | |||||
Total distributions | (.26) | (.61) | (.97) | (.24) | (.01) | |||||
Net asset value, end of period | $ | 29.18 | $ | 28.88 | $ | 28.02 | $ | 28.63 | $ | 20.23 |
Total Return D,E,F | 1.95% | 5.35% | 1.27% | 42.83% | 1.23% | |||||
Ratios to Average Net Assets C,G,H | ||||||||||
Expenses before reductions | .59% I | .59% | .59% | .59% | .59% I | |||||
Expenses net of fee waivers, if any | .59% I | .59% | .59% | .59% | .59% I | |||||
Expenses net of all reductions | .59% I | .59% | .59% | .58% | .59% I | |||||
Net investment income (loss) | 1.81% I | 1.53% | 1.36% | 1.22% | 1.02% I | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 120,349 | $ | 128,498 | $ | 114,175 | $ | 94,465 | $ | 8,093 |
Portfolio turnover rate J,K | 32% I | 35% | 54% | 97% | 20% L |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 7.7 | |
Apple, Inc. | 4.4 | |
NVIDIA Corp. | 4.0 | |
Amazon.com, Inc. | 3.4 | |
Meta Platforms, Inc. Class A | 2.7 | |
Alphabet, Inc. Class A | 2.0 | |
Eli Lilly & Co. | 1.9 | |
Visa, Inc. Class A | 1.8 | |
UnitedHealth Group, Inc. | 1.5 | |
Exxon Mobil Corp. | 1.4 | |
30.8 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 28.5 | |
Industrials | 14.4 | |
Health Care | 11.5 | |
Financials | 10.3 | |
Consumer Discretionary | 10.0 | |
Communication Services | 9.0 | |
Energy | 4.4 | |
Consumer Staples | 4.2 | |
Materials | 3.3 | |
Utilities | 2.1 | |
Real Estate | 1.0 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 98.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.0% | |||
Entertainment - 3.2% | |||
Endeavor Group Holdings, Inc. | 19,565 | 484,234 | |
Netflix, Inc. (a) | 3,509 | 1,979,462 | |
Spotify Technology SA (a) | 3,891 | 837,927 | |
The Walt Disney Co. | 21,304 | 2,046,249 | |
TKO Group Holdings, Inc. | 8,625 | 721,826 | |
6,069,698 | |||
Interactive Media & Services - 4.7% | |||
Alphabet, Inc. Class A (a) | 27,362 | 3,833,416 | |
Meta Platforms, Inc. Class A | 13,168 | 5,137,364 | |
8,970,780 | |||
Media - 1.1% | |||
Comcast Corp. Class A | 46,376 | 2,158,339 | |
TOTAL COMMUNICATION SERVICES | 17,198,817 | ||
CONSUMER DISCRETIONARY - 10.0% | |||
Automobile Components - 0.4% | |||
Aptiv PLC (a) | 9,867 | 802,483 | |
Broadline Retail - 3.4% | |||
Amazon.com, Inc. (a) | 41,447 | 6,432,574 | |
Hotels, Restaurants & Leisure - 2.5% | |||
Airbnb, Inc. Class A (a) | 8,425 | 1,214,380 | |
Booking Holdings, Inc. (a) | 315 | 1,104,853 | |
Chipotle Mexican Grill, Inc. (a) | 344 | 828,617 | |
Churchill Downs, Inc. | 3,550 | 429,444 | |
Domino's Pizza, Inc. | 624 | 265,961 | |
Hilton Worldwide Holdings, Inc. | 5,142 | 981,916 | |
4,825,171 | |||
Household Durables - 0.8% | |||
Lennar Corp. Class A | 4,800 | 719,280 | |
NVR, Inc. (a) | 112 | 792,432 | |
1,511,712 | |||
Specialty Retail - 1.7% | |||
Dick's Sporting Goods, Inc. | 2,606 | 388,476 | |
Floor & Decor Holdings, Inc. Class A (a) | 4,496 | 452,118 | |
TJX Companies, Inc. | 24,218 | 2,298,530 | |
3,139,124 | |||
Textiles, Apparel & Luxury Goods - 1.2% | |||
NIKE, Inc. Class B | 12,984 | 1,318,266 | |
Ralph Lauren Corp. | 7,276 | 1,045,343 | |
2,363,609 | |||
TOTAL CONSUMER DISCRETIONARY | 19,074,673 | ||
CONSUMER STAPLES - 4.2% | |||
Beverages - 0.9% | |||
Boston Beer Co., Inc. Class A (a) | 1,113 | 388,738 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 1,662 | 407,323 | |
Keurig Dr. Pepper, Inc. | 32,836 | 1,032,364 | |
1,828,425 | |||
Consumer Staples Distribution & Retail - 2.1% | |||
Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | 10,687 | 626,220 | |
BJ's Wholesale Club Holdings, Inc. (a) | 10,070 | 647,904 | |
Maplebear, Inc. (NASDAQ) | 7,449 | 182,277 | |
Performance Food Group Co. (a) | 18,340 | 1,332,951 | |
Walmart, Inc. | 7,345 | 1,213,761 | |
4,003,113 | |||
Household Products - 0.4% | |||
The Clorox Co. | 5,117 | 743,244 | |
Personal Care Products - 0.8% | |||
Kenvue, Inc. | 69,992 | 1,453,034 | |
TOTAL CONSUMER STAPLES | 8,027,816 | ||
ENERGY - 4.4% | |||
Energy Equipment & Services - 1.4% | |||
Baker Hughes Co. Class A | 39,109 | 1,114,607 | |
Schlumberger Ltd. | 23,154 | 1,127,600 | |
TechnipFMC PLC | 25,014 | 483,771 | |
2,725,978 | |||
Oil, Gas & Consumable Fuels - 3.0% | |||
Antero Resources Corp. (a) | 18,417 | 411,436 | |
Canadian Natural Resources Ltd. | 12,179 | 779,334 | |
Cenovus Energy, Inc. (Canada) | 36,253 | 587,296 | |
Cheniere Energy, Inc. | 5,569 | 913,260 | |
Exxon Mobil Corp. | 26,314 | 2,705,342 | |
New Fortress Energy, Inc. | 7,525 | 250,056 | |
5,646,724 | |||
TOTAL ENERGY | 8,372,702 | ||
FINANCIALS - 10.3% | |||
Banks - 3.3% | |||
Bank of America Corp. | 49,176 | 1,672,476 | |
JPMorgan Chase & Co. | 11,162 | 1,946,206 | |
KeyCorp | 37,607 | 546,430 | |
Wells Fargo & Co. | 41,464 | 2,080,664 | |
6,245,776 | |||
Capital Markets - 2.2% | |||
Ares Management Corp. | 6,316 | 767,268 | |
Blue Owl Capital, Inc. Class A | 50,967 | 792,027 | |
Goldman Sachs Group, Inc. | 2,433 | 934,296 | |
Houlihan Lokey | 4,701 | 563,086 | |
Morgan Stanley | 13,048 | 1,138,308 | |
4,194,985 | |||
Financial Services - 3.3% | |||
Fiserv, Inc. (a) | 14,438 | 2,048,319 | |
Shift4 Payments, Inc. (a) | 10,977 | 788,258 | |
Visa, Inc. Class A | 12,965 | 3,542,816 | |
6,379,393 | |||
Insurance - 1.5% | |||
Chubb Ltd. | 7,626 | 1,868,370 | |
Marsh & McLennan Companies, Inc. | 5,522 | 1,070,384 | |
2,938,754 | |||
TOTAL FINANCIALS | 19,758,908 | ||
HEALTH CARE - 11.5% | |||
Biotechnology - 1.6% | |||
Gilead Sciences, Inc. | 10,687 | 836,365 | |
Legend Biotech Corp. ADR (a) | 4,053 | 223,158 | |
Regeneron Pharmaceuticals, Inc. (a) | 2,138 | 2,015,664 | |
3,075,187 | |||
Health Care Equipment & Supplies - 2.3% | |||
Boston Scientific Corp. (a) | 38,110 | 2,410,839 | |
Glaukos Corp. (a) | 2,730 | 243,052 | |
Masimo Corp. (a) | 1,897 | 244,599 | |
Stryker Corp. | 4,474 | 1,500,938 | |
4,399,428 | |||
Health Care Providers & Services - 2.6% | |||
Centene Corp. (a) | 14,668 | 1,104,647 | |
Cigna Group | 3,113 | 936,857 | |
LifeStance Health Group, Inc. (a) | 17,783 | 106,342 | |
UnitedHealth Group, Inc. | 5,474 | 2,801,265 | |
4,949,111 | |||
Life Sciences Tools & Services - 2.1% | |||
Danaher Corp. | 8,764 | 2,102,571 | |
Thermo Fisher Scientific, Inc. | 3,632 | 1,957,575 | |
4,060,146 | |||
Pharmaceuticals - 2.9% | |||
AstraZeneca PLC sponsored ADR | 9,964 | 664,001 | |
Eli Lilly & Co. | 5,770 | 3,725,170 | |
Merck & Co., Inc. | 6,251 | 754,996 | |
Novo Nordisk A/S Series B sponsored ADR | 4,404 | 505,315 | |
5,649,482 | |||
TOTAL HEALTH CARE | 22,133,354 | ||
INDUSTRIALS - 14.4% | |||
Aerospace & Defense - 3.3% | |||
BWX Technologies, Inc. | 11,286 | 919,583 | |
General Dynamics Corp. | 2,914 | 772,181 | |
Howmet Aerospace, Inc. | 22,829 | 1,284,360 | |
Northrop Grumman Corp. | 2,541 | 1,135,217 | |
The Boeing Co. (a) | 10,390 | 2,192,706 | |
6,304,047 | |||
Building Products - 1.4% | |||
Builders FirstSource, Inc. (a) | 4,964 | 862,396 | |
Fortune Brands Innovations, Inc. | 8,721 | 676,662 | |
Trane Technologies PLC | 4,587 | 1,156,153 | |
2,695,211 | |||
Construction & Engineering - 1.0% | |||
Quanta Services, Inc. | 8,252 | 1,601,301 | |
Willscot Mobile Mini Holdings (a) | 6,369 | 301,254 | |
1,902,555 | |||
Electrical Equipment - 2.4% | |||
Eaton Corp. PLC | 8,025 | 1,974,792 | |
Generac Holdings, Inc. (a) | 8,192 | 931,185 | |
Nextracker, Inc. Class A | 16,171 | 732,061 | |
Vertiv Holdings Co. | 17,325 | 975,917 | |
4,613,955 | |||
Ground Transportation - 1.5% | |||
Saia, Inc. (a) | 1,678 | 756,073 | |
Uber Technologies, Inc. (a) | 32,437 | 2,117,163 | |
2,873,236 | |||
Industrial Conglomerates - 0.9% | |||
General Electric Co. | 13,838 | 1,832,428 | |
Machinery - 2.8% | |||
Caterpillar, Inc. | 4,634 | 1,391,637 | |
Ingersoll Rand, Inc. | 17,352 | 1,385,731 | |
ITT, Inc. | 5,895 | 711,998 | |
Parker Hannifin Corp. | 4,058 | 1,884,941 | |
5,374,307 | |||
Professional Services - 0.7% | |||
FTI Consulting, Inc. (a) | 3,047 | 583,836 | |
KBR, Inc. | 13,166 | 686,080 | |
1,269,916 | |||
Trading Companies & Distributors - 0.4% | |||
United Rentals, Inc. | 1,305 | 816,147 | |
TOTAL INDUSTRIALS | 27,681,802 | ||
INFORMATION TECHNOLOGY - 28.5% | |||
Communications Equipment - 0.4% | |||
Cisco Systems, Inc. | 15,003 | 752,851 | |
Electronic Equipment, Instruments & Components - 1.0% | |||
Flex Ltd. (a) | 29,377 | 697,410 | |
Jabil, Inc. | 9,493 | 1,189,378 | |
1,886,788 | |||
IT Services - 0.9% | |||
MongoDB, Inc. Class A (a) | 1,179 | 472,213 | |
Shopify, Inc. Class A (a) | 15,252 | 1,221,228 | |
1,693,441 | |||
Semiconductors & Semiconductor Equipment - 9.0% | |||
Advanced Micro Devices, Inc. (a) | 15,452 | 2,591,146 | |
Analog Devices, Inc. | 5,106 | 982,190 | |
ASML Holding NV (depository receipt) | 1,201 | 1,044,654 | |
First Solar, Inc. (a) | 3,374 | 493,616 | |
Marvell Technology, Inc. | 1,139 | 77,110 | |
Micron Technology, Inc. | 11,661 | 999,931 | |
NVIDIA Corp. | 12,583 | 7,741,942 | |
NXP Semiconductors NV | 5,563 | 1,171,401 | |
ON Semiconductor Corp. (a) | 12,402 | 882,154 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 11,057 | 1,248,999 | |
17,233,143 | |||
Software - 12.8% | |||
Adobe, Inc. (a) | 4,300 | 2,656,454 | |
Dynatrace, Inc. (a) | 16,482 | 939,474 | |
Intuit, Inc. | 2,669 | 1,685,020 | |
Microsoft Corp. | 37,394 | 14,867,105 | |
Oracle Corp. | 10,191 | 1,138,335 | |
Salesforce, Inc. (a) | 8,680 | 2,439,861 | |
Workday, Inc. Class A (a) | 2,746 | 799,278 | |
24,525,527 | |||
Technology Hardware, Storage & Peripherals - 4.4% | |||
Apple, Inc. | 46,241 | 8,526,840 | |
TOTAL INFORMATION TECHNOLOGY | 54,618,590 | ||
MATERIALS - 3.3% | |||
Chemicals - 1.6% | |||
Celanese Corp. Class A | 5,648 | 826,246 | |
Element Solutions, Inc. | 33,109 | 736,013 | |
Linde PLC | 3,563 | 1,442,409 | |
3,004,668 | |||
Construction Materials - 0.4% | |||
Martin Marietta Materials, Inc. | 1,696 | 862,280 | |
Containers & Packaging - 0.3% | |||
Avery Dennison Corp. | 3,331 | 664,368 | |
Metals & Mining - 1.0% | |||
Franco-Nevada Corp. | 4,893 | 529,388 | |
Freeport-McMoRan, Inc. | 33,899 | 1,345,451 | |
1,874,839 | |||
TOTAL MATERIALS | 6,406,155 | ||
REAL ESTATE - 1.0% | |||
Equity Real Estate Investment Trusts (REITs) - 0.6% | |||
Kimco Realty Corp. | 24,320 | 491,264 | |
Terreno Realty Corp. | 11,855 | 708,099 | |
1,199,363 | |||
Real Estate Management & Development - 0.4% | |||
CBRE Group, Inc. (a) | 7,599 | 655,870 | |
TOTAL REAL ESTATE | 1,855,233 | ||
UTILITIES - 2.1% | |||
Electric Utilities - 1.4% | |||
Constellation Energy Corp. | 10,073 | 1,228,906 | |
Southern Co. | 19,387 | 1,347,784 | |
2,576,690 | |||
Independent Power and Renewable Electricity Producers - 0.7% | |||
Vistra Corp. | 33,870 | 1,389,686 | |
TOTAL UTILITIES | 3,966,376 | ||
TOTAL COMMON STOCKS (Cost $154,850,947) | 189,094,426 | ||
Money Market Funds - 0.6% | |||
Shares | Value ($) | ||
State Street Institutional Treasury Plus Money Market Fund Trust Class 5.23% (b) (Cost $1,169,617) | 1,169,617 | 1,169,617 | |
TOTAL INVESTMENT IN SECURITIES - 99.3% (Cost $156,020,564) | 190,264,043 |
NET OTHER ASSETS (LIABILITIES) - 0.7% | 1,264,992 |
NET ASSETS - 100.0% | 191,529,035 |
(a) | Non-income producing |
(b) | The rate quoted is the annualized seven-day yield of the fund at period end. |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 17,198,817 | 17,198,817 | - | - |
Consumer Discretionary | 19,074,673 | 19,074,673 | - | - |
Consumer Staples | 8,027,816 | 8,027,816 | - | - |
Energy | 8,372,702 | 8,372,702 | - | - |
Financials | 19,758,908 | 19,758,908 | - | - |
Health Care | 22,133,354 | 22,133,354 | - | - |
Industrials | 27,681,802 | 27,681,802 | - | - |
Information Technology | 54,618,590 | 54,618,590 | - | - |
Materials | 6,406,155 | 6,406,155 | - | - |
Real Estate | 1,855,233 | 1,855,233 | - | - |
Utilities | 3,966,376 | 3,966,376 | - | - |
Money Market Funds | 1,169,617 | 1,169,617 | - | - |
Total Investments in Securities: | 190,264,043 | 190,264,043 | - | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $156,020,564): | $ | 190,264,043 | ||
Receivable for investments sold | 14,286,871 | |||
Dividends receivable | 34,412 | |||
Total assets | 204,585,326 | |||
Liabilities | ||||
Payable for investments purchased | $ | 12,966,873 | ||
Accrued management fee | 89,418 | |||
Total Liabilities | 13,056,291 | |||
Net Assets | $ | 191,529,035 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 161,654,339 | ||
Total accumulated earnings (loss) | 29,874,696 | |||
Net Assets | $ | 191,529,035 | ||
Net Asset Value, offering price and redemption price per share ($191,529,035 ÷ 5,175,000 shares) | $ | 37.01 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 692,933 | ||
Expenses | ||||
Management fee | $ | 404,270 | ||
Independent trustees' fees and expenses | 342 | |||
Total expenses before reductions | 404,612 | |||
Expense reductions | (5) | |||
Total expenses after reductions | 404,607 | |||
Net Investment income (loss) | 288,326 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Redemptions in-kind | 265,915 | |||
Unaffiliated issuers | (848,388) | |||
Foreign currency transactions | 323 | |||
Futures contracts | (332) | |||
Total net realized gain (loss) | (582,482) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 14,476,298 | |||
Assets and liabilities in foreign currencies | (155) | |||
Total change in net unrealized appreciation (depreciation) | 14,476,143 | |||
Net gain (loss) | 13,893,661 | |||
Net increase (decrease) in net assets resulting from operations | $ | 14,181,987 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 288,326 | $ | 825,760 |
Net realized gain (loss) | (582,482) | 4,126,321 | ||
Change in net unrealized appreciation (depreciation) | 14,476,143 | 13,991,450 | ||
Net increase (decrease) in net assets resulting from operations | 14,181,987 | 18,943,531 | ||
Distributions to shareholders | (322,275) | (1,058,225) | ||
Share transactions | ||||
Proceeds from sales of shares | 70,671,291 | 63,669,740 | ||
Cost of shares redeemed | (924,534) | (29,908,118) | ||
Net increase (decrease) in net assets resulting from share transactions | 69,746,757 | 33,761,622 | ||
Total increase (decrease) in net assets | 83,606,469 | 51,646,928 | ||
Net Assets | ||||
Beginning of period | 107,922,566 | 56,275,638 | ||
End of period | $ | 191,529,035 | $ | 107,922,566 |
Other Information | ||||
Shares | ||||
Sold | 2,075,000 | 2,150,000 | ||
Redeemed | (25,000) | (975,000) | ||
Net increase (decrease) | 2,050,000 | 1,175,000 | ||
Fidelity® Fundamental Large Cap Core ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 A | ||||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 34.54 | $ | 28.86 | $ | 29.11 | $ | 20.37 | $ | 20.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | .07 | .30 | .40 | .36 | .03 | |||||
Net realized and unrealized gain (loss) | 2.48 | 5.78 | (.12) | 8.75 | .36 | |||||
Total from investment operations | 2.55 | 6.08 | .28 | 9.11 | .39 | |||||
Distributions from net investment income | (.08) | (.33) | (.53) | (.37) | (.02) | |||||
Distributions from net realized gain | - | (.07) | - | - | - | |||||
Total distributions | (.08) | (.40) | (.53) | (.37) | (.02) | |||||
Net asset value, end of period | $ | 37.01 | $ | 34.54 | $ | 28.86 | $ | 29.11 | $ | 20.37 |
Total Return D,E,F | 7.40% | 21.36% | 1.00% | 45.03% | 1.95% | |||||
Ratios to Average Net Assets C,G,H | ||||||||||
Expenses before reductions | .59% I | .59% | .59% | .59% | .59% I | |||||
Expenses net of fee waivers, if any | .59% I | .59% | .59% | .59% | .59% I | |||||
Expenses net of all reductions | .59% I | .59% | .59% | .58% | .59% I | |||||
Net investment income (loss) | .42% I | .99% | 1.36% | 1.33% | 1.00% I | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 191,529 | $ | 107,923 | $ | 56,276 | $ | 60,407 | $ | 6,112 |
Portfolio turnover rate J,K | 72% I | 76% | 36% | 68% | 10% L |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 10.9 | |
NVIDIA Corp. | 9.2 | |
Meta Platforms, Inc. Class A | 5.8 | |
Amazon.com, Inc. | 5.2 | |
Alphabet, Inc. Class C | 4.5 | |
Uber Technologies, Inc. | 3.6 | |
Alphabet, Inc. Class A | 2.7 | |
Roku, Inc. Class A | 2.6 | |
T-Mobile U.S., Inc. | 2.5 | |
Apple, Inc. | 2.1 | |
49.1 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 40.4 | |
Communication Services | 22.3 | |
Health Care | 11.0 | |
Consumer Discretionary | 9.0 | |
Financials | 7.2 | |
Industrials | 7.0 | |
Utilities | 1.0 | |
Energy | 0.9 | |
Consumer Staples | 0.7 | |
Real Estate | 0.3 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 99.8% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 22.3% | |||
Entertainment - 5.1% | |||
Netflix, Inc. (a) | 2,347 | 1,323,966 | |
Roku, Inc. Class A (a) | 70,732 | 6,228,660 | |
Sea Ltd. ADR (a) | 126,409 | 4,821,239 | |
12,373,865 | |||
Interactive Media & Services - 14.4% | |||
Alphabet, Inc.: | |||
Class A (a) | 47,270 | 6,622,527 | |
Class C (a) | 76,505 | 10,848,409 | |
Meta Platforms, Inc. Class A | 35,829 | 13,978,326 | |
Snap, Inc. Class A (a) | 119,759 | 1,902,971 | |
Zoominfo Technologies, Inc. (a) | 91,410 | 1,466,216 | |
34,818,449 | |||
Media - 0.3% | |||
Charter Communications, Inc. Class A (a) | 15 | 5,561 | |
Magnite, Inc. (a) | 73,160 | 647,466 | |
653,027 | |||
Wireless Telecommunication Services - 2.5% | |||
T-Mobile U.S., Inc. | 37,306 | 6,014,846 | |
TOTAL COMMUNICATION SERVICES | 53,860,187 | ||
CONSUMER DISCRETIONARY - 9.0% | |||
Automobiles - 0.0% | |||
Tesla, Inc. (a) | 56 | 10,488 | |
Broadline Retail - 5.2% | |||
Amazon.com, Inc. (a) | 81,313 | 12,619,778 | |
Hotels, Restaurants & Leisure - 1.1% | |||
Domino's Pizza, Inc. | 1,544 | 658,084 | |
Doordash, Inc. (a) | 657 | 68,459 | |
Hilton Worldwide Holdings, Inc. | 5,959 | 1,137,931 | |
Planet Fitness, Inc. (a) | 12,686 | 859,603 | |
2,724,077 | |||
Household Durables - 0.0% | |||
Lennar Corp. Class A | 357 | 53,496 | |
Specialty Retail - 2.5% | |||
Carvana Co. Class A (a) | 28,386 | 1,222,301 | |
Floor & Decor Holdings, Inc. Class A (a) | 21,064 | 2,118,196 | |
Lowe's Companies, Inc. | 12,472 | 2,654,540 | |
Wayfair LLC Class A (a) | 1,821 | 91,505 | |
6,086,542 | |||
Textiles, Apparel & Luxury Goods - 0.2% | |||
lululemon athletica, Inc. (a) | 755 | 342,634 | |
TOTAL CONSUMER DISCRETIONARY | 21,837,015 | ||
CONSUMER STAPLES - 0.7% | |||
Beverages - 0.2% | |||
The Coca-Cola Co. | 5,699 | 339,034 | |
Consumer Staples Distribution & Retail - 0.5% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 16,959 | 1,091,142 | |
Maplebear, Inc. (NASDAQ) | 7,586 | 185,629 | |
1,276,771 | |||
Food Products - 0.0% | |||
Local Bounti Corp. (a) | 3,136 | 6,586 | |
TOTAL CONSUMER STAPLES | 1,622,391 | ||
ENERGY - 0.9% | |||
Oil, Gas & Consumable Fuels - 0.9% | |||
Antero Resources Corp. (a) | 35,827 | 800,375 | |
Canadian Natural Resources Ltd. | 6,463 | 413,609 | |
Ovintiv, Inc. | 13,582 | 576,148 | |
Tourmaline Oil Corp. | 11,928 | 515,731 | |
2,305,863 | |||
FINANCIALS - 7.2% | |||
Capital Markets - 1.1% | |||
LPL Financial | 11,388 | 2,723,896 | |
Financial Services - 6.1% | |||
Apollo Global Management, Inc. | 3,072 | 308,429 | |
Block, Inc. Class A (a) | 27,770 | 1,805,328 | |
Dlocal Ltd. (a) | 68,119 | 1,097,397 | |
Fiserv, Inc. (a) | 18,105 | 2,568,556 | |
Global Payments, Inc. | 24,392 | 3,249,746 | |
Marqeta, Inc. Class A (a) | 292,687 | 1,759,049 | |
Visa, Inc. Class A | 14,492 | 3,960,084 | |
14,748,589 | |||
TOTAL FINANCIALS | 17,472,485 | ||
HEALTH CARE - 11.0% | |||
Biotechnology - 2.0% | |||
Alnylam Pharmaceuticals, Inc. (a) | 1,280 | 221,325 | |
ALX Oncology Holdings, Inc. (a) | 9,098 | 131,102 | |
Argenx SE ADR (a) | 1,347 | 512,547 | |
Ascendis Pharma A/S sponsored ADR (a) | 67 | 8,705 | |
Celldex Therapeutics, Inc. (a) | 13,213 | 465,362 | |
Cytokinetics, Inc. (a) | 12,013 | 938,576 | |
Icosavax, Inc. (a) | 20,074 | 307,333 | |
Keros Therapeutics, Inc. (a) | 4,097 | 226,810 | |
Moderna, Inc. (a) | 2,283 | 230,697 | |
Nuvalent, Inc. Class A (a) | 3,783 | 284,368 | |
Regeneron Pharmaceuticals, Inc. (a) | 278 | 262,093 | |
Vaxcyte, Inc. (a) | 14,716 | 1,051,017 | |
Zentalis Pharmaceuticals, Inc. (a) | 11,694 | 138,574 | |
4,778,509 | |||
Health Care Equipment & Supplies - 3.1% | |||
Boston Scientific Corp. (a) | 78,172 | 4,945,161 | |
Penumbra, Inc. (a) | 4,974 | 1,254,393 | |
TransMedics Group, Inc. (a) | 15,074 | 1,292,897 | |
7,492,451 | |||
Health Care Providers & Services - 3.5% | |||
agilon health, Inc. (a) | 193,664 | 1,140,681 | |
Alignment Healthcare, Inc. (a) | 1,344 | 9,005 | |
Centene Corp. (a) | 15,722 | 1,184,024 | |
Humana, Inc. | 3,837 | 1,450,616 | |
UnitedHealth Group, Inc. | 9,346 | 4,782,722 | |
8,567,048 | |||
Life Sciences Tools & Services - 0.8% | |||
Danaher Corp. | 3,885 | 932,050 | |
Thermo Fisher Scientific, Inc. | 1,866 | 1,005,737 | |
1,937,787 | |||
Pharmaceuticals - 1.6% | |||
Eli Lilly & Co. | 5,424 | 3,501,789 | |
Novo Nordisk A/S Series B sponsored ADR | 2,288 | 262,525 | |
Structure Therapeutics, Inc. ADR | 3,450 | 150,489 | |
3,914,803 | |||
TOTAL HEALTH CARE | 26,690,598 | ||
INDUSTRIALS - 7.0% | |||
Aerospace & Defense - 0.5% | |||
The Boeing Co. (a) | 5,999 | 1,266,029 | |
Building Products - 0.4% | |||
Builders FirstSource, Inc. (a) | 6,126 | 1,064,270 | |
Commercial Services & Supplies - 0.3% | |||
ACV Auctions, Inc. Class A (a) | 39,486 | 512,133 | |
Veralto Corp. | 1,144 | 87,733 | |
599,866 | |||
Electrical Equipment - 2.0% | |||
Bloom Energy Corp. Class A (a) | 605 | 6,849 | |
Eaton Corp. PLC | 1,696 | 417,352 | |
Nextracker, Inc. Class A | 28,531 | 1,291,598 | |
Vertiv Holdings Co. | 54,323 | 3,060,015 | |
4,775,814 | |||
Ground Transportation - 3.8% | |||
Lyft, Inc. (a) | 44,368 | 554,156 | |
Uber Technologies, Inc. (a) | 131,291 | 8,569,364 | |
9,123,520 | |||
TOTAL INDUSTRIALS | 16,829,499 | ||
INFORMATION TECHNOLOGY - 40.4% | |||
Communications Equipment - 0.4% | |||
Arista Networks, Inc. (a) | 1,237 | 319,987 | |
Lumentum Holdings, Inc. (a) | 11,577 | 636,040 | |
956,027 | |||
Electronic Equipment, Instruments & Components - 1.8% | |||
Flex Ltd. (a) | 140,393 | 3,332,930 | |
Jabil, Inc. | 8,770 | 1,098,793 | |
4,431,723 | |||
IT Services - 1.8% | |||
Accenture PLC Class A | 671 | 244,163 | |
EPAM Systems, Inc. (a) | 6,791 | 1,888,645 | |
MongoDB, Inc. Class A (a) | 5,290 | 2,118,751 | |
Snowflake, Inc. (a) | 692 | 135,383 | |
4,386,942 | |||
Semiconductors & Semiconductor Equipment - 16.4% | |||
Advanced Micro Devices, Inc. (a) | 24,678 | 4,138,254 | |
Applied Materials, Inc. | 3,739 | 614,318 | |
Arm Holdings Ltd. ADR | 814 | 57,525 | |
Broadcom, Inc. | 74 | 87,320 | |
First Solar, Inc. (a) | 1,586 | 232,032 | |
GlobalFoundries, Inc. (a) | 11,960 | 657,561 | |
Marvell Technology, Inc. | 31,058 | 2,102,627 | |
NVIDIA Corp. | 36,041 | 22,174,946 | |
NXP Semiconductors NV | 18,635 | 3,923,972 | |
ON Semiconductor Corp. (a) | 54,835 | 3,900,414 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 15,171 | 1,713,716 | |
39,602,685 | |||
Software - 17.8% | |||
Adobe, Inc. (a) | 4,004 | 2,473,591 | |
Datadog, Inc. Class A (a) | 11,254 | 1,400,448 | |
DoubleVerify Holdings, Inc. (a) | 16,682 | 667,447 | |
Dynatrace, Inc. (a) | 14,228 | 810,996 | |
HubSpot, Inc. (a) | 2,108 | 1,287,988 | |
Intapp, Inc. (a) | 30,788 | 1,326,347 | |
Intuit, Inc. | 2,280 | 1,439,432 | |
Klaviyo, Inc. Class A | 411 | 10,624 | |
Microsoft Corp. | 66,371 | 26,387,783 | |
Oracle Corp. | 26,732 | 2,985,964 | |
Salesforce, Inc. (a) | 6,879 | 1,933,618 | |
Samsara, Inc. (a) | 3,568 | 112,035 | |
ServiceNow, Inc. (a) | 2,631 | 2,013,767 | |
Synopsys, Inc. (a) | 179 | 95,470 | |
42,945,510 | |||
Technology Hardware, Storage & Peripherals - 2.2% | |||
Apple, Inc. | 27,214 | 5,018,262 | |
Pure Storage, Inc. Class A (a) | 10,124 | 404,859 | |
5,423,121 | |||
TOTAL INFORMATION TECHNOLOGY | 97,746,008 | ||
REAL ESTATE - 0.3% | |||
Equity Real Estate Investment Trusts (REITs) - 0.3% | |||
American Tower Corp. | 4,171 | 816,056 | |
UTILITIES - 1.0% | |||
Electric Utilities - 1.0% | |||
Constellation Energy Corp. | 9,952 | 1,214,144 | |
PG&E Corp. | 68,946 | 1,163,119 | |
2,377,263 | |||
TOTAL COMMON STOCKS (Cost $181,099,525) | 241,557,365 | ||
Money Market Funds - 0.2% | |||
Shares | Value ($) | ||
State Street Institutional Treasury Plus Money Market Fund Trust Class 5.23% (b) (Cost $504,303) | 504,303 | 504,303 | |
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $181,603,828) | 242,061,668 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | (105,236) |
NET ASSETS - 100.0% | 241,956,432 |
(a) | Non-income producing |
(b) | The rate quoted is the annualized seven-day yield of the fund at period end. |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 53,860,187 | 53,860,187 | - | - |
Consumer Discretionary | 21,837,015 | 21,837,015 | - | - |
Consumer Staples | 1,622,391 | 1,622,391 | - | - |
Energy | 2,305,863 | 2,305,863 | - | - |
Financials | 17,472,485 | 17,472,485 | - | - |
Health Care | 26,690,598 | 26,690,598 | - | - |
Industrials | 16,829,499 | 16,829,499 | - | - |
Information Technology | 97,746,008 | 97,746,008 | - | - |
Real Estate | 816,056 | 816,056 | - | - |
Utilities | 2,377,263 | 2,377,263 | - | - |
Money Market Funds | 504,303 | 504,303 | - | - |
Total Investments in Securities: | 242,061,668 | 242,061,668 | - | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $181,603,828): | $ | 242,061,668 | ||
Cash | 5,247 | |||
Receivable for investments sold | 2,439,330 | |||
Dividends receivable | 21,064 | |||
Total assets | 244,527,309 | |||
Liabilities | ||||
Payable for investments purchased | $ | 2,455,142 | ||
Accrued management fee | 115,735 | |||
Total Liabilities | 2,570,877 | |||
Net Assets | $ | 241,956,432 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 202,590,567 | ||
Total accumulated earnings (loss) | 39,365,865 | |||
Net Assets | $ | 241,956,432 | ||
Net Asset Value, offering price and redemption price per share ($241,956,432 ÷ 12,425,000 shares) | $ | 19.47 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 370,374 | ||
Expenses | ||||
Management fee | $ | 593,164 | ||
Independent trustees' fees and expenses | 542 | |||
Total expenses before reductions | 593,706 | |||
Expense reductions | (59) | |||
Total expenses after reductions | 593,647 | |||
Net Investment income (loss) | (223,273) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Redemptions in-kind | 213,380 | |||
Unaffiliated issuers | 358,757 | |||
Foreign currency transactions | (185) | |||
Futures contracts | 20,106 | |||
Total net realized gain (loss) | 592,058 | |||
Change in net unrealized appreciation (depreciation) on investment securities | 18,451,741 | |||
Net gain (loss) | 19,043,799 | |||
Net increase (decrease) in net assets resulting from operations | $ | 18,820,526 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (223,273) | $ | (76,527) |
Net realized gain (loss) | 592,058 | (3,369,028) | ||
Change in net unrealized appreciation (depreciation) | 18,451,741 | 44,562,111 | ||
Net increase (decrease) in net assets resulting from operations | 18,820,526 | 41,116,556 | ||
Share transactions | ||||
Proceeds from sales of shares | 28,914,403 | 118,430,789 | ||
Cost of shares redeemed | (877,580) | (26,758,280) | ||
Net increase (decrease) in net assets resulting from share transactions | 28,036,823 | 91,672,509 | ||
Total increase (decrease) in net assets | 46,857,349 | 132,789,065 | ||
Net Assets | ||||
Beginning of period | 195,099,083 | 62,310,018 | ||
End of period | $ | 241,956,432 | $ | 195,099,083 |
Other Information | ||||
Shares | ||||
Sold | 1,600,000 | 8,550,000 | ||
Redeemed | (50,000) | (1,975,000) | ||
Net increase (decrease) | 1,550,000 | 6,575,000 | ||
Fidelity® Fundamental Large Cap Growth ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 A | |||||
Selected Per-Share Data | ||||||||
Net asset value, beginning of period | $ | 17.94 | $ | 14.49 | $ | 21.16 | $ | 20.00 |
Income from Investment Operations | ||||||||
Net investment income (loss) B,C | (.02) | (.01) | (.03) | (.03) | ||||
Net realized and unrealized gain (loss) | 1.55 | 3.46 | (6.64) | 1.19 | ||||
Total from investment operations | 1.53 | 3.45 | (6.67) | 1.16 | ||||
Net asset value, end of period | $ | 19.47 | $ | 17.94 | $ | 14.49 | $ | 21.16 |
Total Return D,E,F | 8.55% | 23.80% | (31.53)% | 5.82% | ||||
Ratios to Average Net Assets B,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) | (.22)% I | (.07)% | (.19)% | (.33)% I | ||||
Supplemental Data | ||||||||
Net assets, end of period (000 omitted) | $ | 241,956 | $ | 195,099 | $ | 62,310 | $ | 39,679 |
Portfolio turnover rate J,K | 47% I | 78% | 99% | 49% L |
Top Holdings (% of Fund's net assets) | ||
Tempur Sealy International, Inc. | 1.5 | |
TFI International, Inc. | 1.5 | |
AutoZone, Inc. | 1.4 | |
TechnipFMC PLC | 1.4 | |
Molina Healthcare, Inc. | 1.3 | |
Fabrinet | 1.3 | |
Performance Food Group Co. | 1.2 | |
Arch Capital Group Ltd. | 1.2 | |
Universal Health Services, Inc. Class B | 1.2 | |
ITT, Inc. | 1.1 | |
13.1 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 23.2 | |
Financials | 16.8 | |
Consumer Discretionary | 12.8 | |
Information Technology | 12.7 | |
Health Care | 10.3 | |
Materials | 7.0 | |
Energy | 5.9 | |
Consumer Staples | 3.9 | |
Real Estate | 3.6 | |
Utilities | 1.9 | |
Communication Services | 0.9 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 99.0% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 0.9% | |||
Media - 0.9% | |||
Nexstar Media Group, Inc. Class A | 2,347 | 417,085 | |
CONSUMER DISCRETIONARY - 12.8% | |||
Automobile Components - 0.9% | |||
Adient PLC (a) | 3,043 | 105,623 | |
Lear Corp. | 1,474 | 195,895 | |
Patrick Industries, Inc. | 882 | 88,544 | |
390,062 | |||
Hotels, Restaurants & Leisure - 1.5% | |||
Brinker International, Inc. (a) | 3,295 | 140,993 | |
Churchill Downs, Inc. | 3,348 | 405,008 | |
Red Rock Resorts, Inc. | 2,423 | 132,490 | |
678,491 | |||
Household Durables - 3.4% | |||
Helen of Troy Ltd. (a) | 1,237 | 141,637 | |
KB Home | 3,813 | 227,217 | |
LGI Homes, Inc. (a) | 1,955 | 230,710 | |
SharkNinja Hong Kong Co. Ltd. | 5,206 | 243,224 | |
Tempur Sealy International, Inc. | 13,752 | 686,083 | |
1,528,871 | |||
Leisure Products - 1.1% | |||
BRP, Inc. | 2,335 | 147,339 | |
Brunswick Corp. | 4,093 | 330,223 | |
477,562 | |||
Specialty Retail - 3.9% | |||
Academy Sports & Outdoors, Inc. | 3,291 | 206,444 | |
AutoZone, Inc. (a) | 230 | 635,290 | |
Dick's Sporting Goods, Inc. | 2,280 | 339,880 | |
Murphy U.S.A., Inc. | 1,184 | 417,384 | |
Upbound Group, Inc. | 4,844 | 160,821 | |
1,759,819 | |||
Textiles, Apparel & Luxury Goods - 2.0% | |||
Crocs, Inc. (a) | 3,138 | 318,444 | |
Gildan Activewear, Inc. | 4,042 | 133,426 | |
PVH Corp. | 3,515 | 422,714 | |
874,584 | |||
TOTAL CONSUMER DISCRETIONARY | 5,709,389 | ||
CONSUMER STAPLES - 3.9% | |||
Consumer Staples Distribution & Retail - 3.3% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 7,530 | 484,480 | |
Performance Food Group Co. (a) | 7,568 | 550,042 | |
U.S. Foods Holding Corp. (a) | 9,720 | 447,217 | |
1,481,739 | |||
Food Products - 0.6% | |||
Nomad Foods Ltd. | 13,762 | 247,578 | |
TOTAL CONSUMER STAPLES | 1,729,317 | ||
ENERGY - 5.9% | |||
Energy Equipment & Services - 2.9% | |||
Cactus, Inc. | 3,897 | 165,389 | |
Championx Corp. | 5,902 | 161,774 | |
Expro Group Holdings NV (a) | 5,161 | 90,834 | |
Liberty Oilfield Services, Inc. Class A | 11,387 | 236,736 | |
TechnipFMC PLC | 32,211 | 622,961 | |
1,277,694 | |||
Oil, Gas & Consumable Fuels - 3.0% | |||
Antero Resources Corp. (a) | 14,075 | 314,436 | |
Cheniere Energy, Inc. | 2,575 | 422,274 | |
Hess Corp. | 3,130 | 439,859 | |
Northern Oil & Gas, Inc. | 4,298 | 143,983 | |
Sitio Royalties Corp. | 1,490 | 31,782 | |
1,352,334 | |||
TOTAL ENERGY | 2,630,028 | ||
FINANCIALS - 16.8% | |||
Banks - 6.1% | |||
BOK Financial Corp. | 2,301 | 192,916 | |
Cadence Bank | 9,741 | 259,305 | |
Eastern Bankshares, Inc. | 15,922 | 222,271 | |
First Bancorp, Puerto Rico | 12,828 | 213,971 | |
First Citizens Bancshares, Inc. | 180 | 271,800 | |
First Interstate Bancsystem, Inc. | 6,605 | 181,770 | |
Independent Bank Group, Inc. | 2,715 | 131,270 | |
M&T Bank Corp. | 864 | 119,318 | |
Pinnacle Financial Partners, Inc. | 3,796 | 335,490 | |
Synovus Financial Corp. | 8,026 | 302,259 | |
Trico Bancshares | 907 | 32,969 | |
Webster Financial Corp. | 4,235 | 209,548 | |
Wintrust Financial Corp. | 2,455 | 238,086 | |
2,710,973 | |||
Capital Markets - 2.1% | |||
Houlihan Lokey | 2,287 | 273,937 | |
LPL Financial | 1,820 | 435,326 | |
Raymond James Financial, Inc. | 2,145 | 236,336 | |
945,599 | |||
Consumer Finance - 1.8% | |||
Discover Financial Services | 3,239 | 341,779 | |
Encore Capital Group, Inc. (a) | 1,543 | 77,273 | |
FirstCash Holdings, Inc. | 3,089 | 354,525 | |
773,577 | |||
Financial Services - 0.4% | |||
Walker & Dunlop, Inc. | 1,856 | 179,271 | |
Insurance - 6.4% | |||
American Financial Group, Inc. | 1,874 | 225,630 | |
Arch Capital Group Ltd. (a) | 6,592 | 543,379 | |
Assurant, Inc. | 2,319 | 389,476 | |
Enstar Group Ltd. (a) | 538 | 143,587 | |
First American Financial Corp. | 7,340 | 442,969 | |
Old Republic International Corp. | 13,857 | 388,550 | |
Primerica, Inc. | 1,624 | 380,276 | |
Reinsurance Group of America, Inc. | 1,860 | 323,435 | |
2,837,302 | |||
TOTAL FINANCIALS | 7,446,722 | ||
HEALTH CARE - 10.3% | |||
Biotechnology - 2.2% | |||
Acelyrin, Inc. | 792 | 6,035 | |
ALX Oncology Holdings, Inc. (a) | 263 | 3,790 | |
Arcellx, Inc. (a) | 881 | 54,481 | |
Argenx SE ADR (a) | 388 | 147,638 | |
Cargo Therapeutics, Inc. | 2,526 | 55,597 | |
Celldex Therapeutics, Inc. (a) | 532 | 18,737 | |
Cogent Biosciences, Inc. (a) | 3,946 | 17,481 | |
Crinetics Pharmaceuticals, Inc. (a) | 1,832 | 66,831 | |
Cytokinetics, Inc. (a) | 1,103 | 86,177 | |
Keros Therapeutics, Inc. (a) | 183 | 10,131 | |
Madrigal Pharmaceuticals, Inc. (a) | 374 | 81,050 | |
Moonlake Immunotherapeutics (a) | 719 | 40,178 | |
Morphic Holding, Inc. (a) | 967 | 30,644 | |
Nuvalent, Inc. Class A (a) | 966 | 72,614 | |
Repligen Corp. (a) | 674 | 127,656 | |
Vaxcyte, Inc. (a) | 877 | 62,635 | |
Vericel Corp. (a) | 627 | 26,948 | |
Xenon Pharmaceuticals, Inc. (a) | 1,021 | 46,170 | |
Zentalis Pharmaceuticals, Inc. (a) | 921 | 10,914 | |
965,707 | |||
Health Care Equipment & Supplies - 1.6% | |||
Haemonetics Corp. (a) | 3,458 | 264,399 | |
Hologic, Inc. (a) | 3,600 | 267,984 | |
TransMedics Group, Inc. (a) | 2,334 | 200,187 | |
732,570 | |||
Health Care Providers & Services - 4.2% | |||
Acadia Healthcare Co., Inc. (a) | 4,191 | 344,249 | |
Cardinal Health, Inc. | 2,595 | 283,348 | |
Molina Healthcare, Inc. (a) | 1,638 | 583,849 | |
Owens & Minor, Inc. (a) | 6,525 | 128,608 | |
Universal Health Services, Inc. Class B | 3,340 | 530,425 | |
1,870,479 | |||
Life Sciences Tools & Services - 1.7% | |||
10X Genomics, Inc. (a) | 635 | 26,460 | |
Charles River Laboratories International, Inc. (a) | 1,344 | 290,680 | |
ICON PLC (a) | 177 | 46,174 | |
Medpace Holdings, Inc. (a) | 859 | 250,467 | |
West Pharmaceutical Services, Inc. | 386 | 143,990 | |
757,771 | |||
Pharmaceuticals - 0.6% | |||
Arvinas Holding Co. LLC (a) | 829 | 34,404 | |
Axsome Therapeutics, Inc. (a) | 553 | 49,787 | |
CymaBay Therapeutics, Inc. (a) | 3,803 | 89,409 | |
Prestige Brands Holdings, Inc. (a) | 449 | 27,631 | |
Structure Therapeutics, Inc. ADR | 590 | 25,736 | |
Verona Pharma PLC ADR (a) | 1,882 | 34,535 | |
261,502 | |||
TOTAL HEALTH CARE | 4,588,029 | ||
INDUSTRIALS - 23.2% | |||
Building Products - 1.1% | |||
Hayward Holdings, Inc. (a) | 16,995 | 212,777 | |
Tecnoglass, Inc. | 6,123 | 281,719 | |
494,496 | |||
Commercial Services & Supplies - 0.5% | |||
The Brink's Co. | 2,470 | 199,675 | |
Construction & Engineering - 2.9% | |||
AECOM | 3,302 | 291,203 | |
EMCOR Group, Inc. | 2,141 | 488,384 | |
Granite Construction, Inc. | 6,182 | 278,870 | |
Willscot Mobile Mini Holdings (a) | 4,899 | 231,723 | |
1,290,180 | |||
Electrical Equipment - 4.4% | |||
Acuity Brands, Inc. | 1,508 | 359,145 | |
AMETEK, Inc. | 2,230 | 361,372 | |
Atkore, Inc. | 2,290 | 349,294 | |
Regal Rexnord Corp. | 3,129 | 417,596 | |
Vertiv Holdings Co. | 8,479 | 477,622 | |
1,965,029 | |||
Ground Transportation - 2.5% | |||
TFI International, Inc. | 5,163 | 678,780 | |
XPO, Inc. (a) | 4,912 | 419,681 | |
1,098,461 | |||
Machinery - 4.0% | |||
Allison Transmission Holdings, Inc. | 4,100 | 248,214 | |
Crane Co. | 3,330 | 413,286 | |
Federal Signal Corp. | 3,345 | 257,498 | |
ITT, Inc. | 4,076 | 492,299 | |
SPX Technologies, Inc. (a) | 3,621 | 364,417 | |
1,775,714 | |||
Professional Services - 5.5% | |||
ASGN, Inc. (a) | 3,592 | 333,409 | |
CACI International, Inc. Class A (a) | 1,098 | 377,416 | |
Concentrix Corp. | 2,878 | 255,768 | |
ExlService Holdings, Inc. (a) | 7,846 | 245,423 | |
Genpact Ltd. | 9,475 | 340,153 | |
KBR, Inc. | 5,811 | 302,811 | |
Kforce, Inc. | 1,505 | 102,867 | |
Maximus, Inc. | 3,416 | 277,106 | |
WNS Holdings Ltd. sponsored ADR (a) | 3,150 | 218,453 | |
2,453,406 | |||
Trading Companies & Distributors - 2.3% | |||
Applied Industrial Technologies, Inc. | 1,992 | 351,508 | |
Beacon Roofing Supply, Inc. (a) | 3,546 | 293,928 | |
Core & Main, Inc. (a) | 5,548 | 229,188 | |
Rush Enterprises, Inc. Class A | 3,384 | 151,975 | |
1,026,599 | |||
TOTAL INDUSTRIALS | 10,303,560 | ||
INFORMATION TECHNOLOGY - 12.7% | |||
Communications Equipment - 0.9% | |||
Ciena Corp. (a) | 3,031 | 160,643 | |
Lumentum Holdings, Inc. (a) | 4,077 | 223,990 | |
384,633 | |||
Electronic Equipment, Instruments & Components - 5.2% | |||
Advanced Energy Industries, Inc. | 3,189 | 332,230 | |
Crane Nxt Co. | 3,308 | 192,790 | |
Fabrinet (a) | 2,635 | 562,599 | |
Flex Ltd. (a) | 7,217 | 171,332 | |
Insight Enterprises, Inc. (a) | 2,229 | 411,785 | |
TD SYNNEX Corp. | 3,285 | 328,434 | |
Vontier Corp. | 9,017 | 311,898 | |
2,311,068 | |||
IT Services - 1.1% | |||
Amdocs Ltd. | 5,334 | 489,021 | |
Semiconductors & Semiconductor Equipment - 2.5% | |||
Cirrus Logic, Inc. (a) | 652 | 50,334 | |
Diodes, Inc. (a) | 2,154 | 145,007 | |
Ichor Holdings Ltd. (a) | 4,370 | 158,194 | |
Lattice Semiconductor Corp. (a) | 3,067 | 186,658 | |
MACOM Technology Solutions Holdings, Inc. (a) | 2,616 | 225,578 | |
ON Semiconductor Corp. (a) | 4,691 | 333,671 | |
1,099,442 | |||
Software - 2.3% | |||
Dynatrace, Inc. (a) | 6,280 | 357,960 | |
Intapp, Inc. (a) | 2,897 | 124,803 | |
JFrog Ltd. (a) | 4,299 | 139,846 | |
PROS Holdings, Inc. (a) | 3,959 | 136,269 | |
Tenable Holdings, Inc. (a) | 5,564 | 262,064 | |
1,020,942 | |||
Technology Hardware, Storage & Peripherals - 0.7% | |||
Seagate Technology Holdings PLC | 3,880 | 332,438 | |
TOTAL INFORMATION TECHNOLOGY | 5,637,544 | ||
MATERIALS - 7.0% | |||
Chemicals - 2.3% | |||
Cabot Corp. | 2,719 | 196,040 | |
Element Solutions, Inc. | 10,268 | 228,258 | |
Olin Corp. | 4,764 | 248,061 | |
The Chemours Co. LLC | 11,932 | 359,988 | |
1,032,347 | |||
Construction Materials - 1.5% | |||
Eagle Materials, Inc. | 1,984 | 448,940 | |
Summit Materials, Inc. (a) | 5,695 | 206,045 | |
654,985 | |||
Containers & Packaging - 1.2% | |||
Graphic Packaging Holding Co. | 12,160 | 310,202 | |
O-I Glass, Inc. (a) | 14,468 | 210,654 | |
520,856 | |||
Metals & Mining - 1.5% | |||
Commercial Metals Co. | 5,548 | 289,717 | |
Constellium NV (a) | 6,042 | 113,288 | |
Steel Dynamics, Inc. | 2,256 | 272,277 | |
675,282 | |||
Paper & Forest Products - 0.5% | |||
Louisiana-Pacific Corp. | 3,182 | 211,762 | |
TOTAL MATERIALS | 3,095,232 | ||
REAL ESTATE - 3.6% | |||
Equity Real Estate Investment Trusts (REITs) - 1.3% | |||
Essential Properties Realty Trust, Inc. | 8,334 | 207,600 | |
LXP Industrial Trust (REIT) | 10,740 | 97,627 | |
Ventas, Inc. | 6,186 | 286,969 | |
592,196 | |||
Real Estate Management & Development - 2.3% | |||
Colliers International Group, Inc. | 3,800 | 446,272 | |
Cushman & Wakefield PLC (a) | 18,761 | 197,366 | |
Jones Lang LaSalle, Inc. (a) | 2,063 | 365,275 | |
1,008,913 | |||
TOTAL REAL ESTATE | 1,601,109 | ||
UTILITIES - 1.9% | |||
Electric Utilities - 0.7% | |||
PG&E Corp. | 18,977 | 320,142 | |
Gas Utilities - 0.6% | |||
Brookfield Infrastructure Corp. A Shares | 6,837 | 239,363 | |
Independent Power and Renewable Electricity Producers - 0.6% | |||
The AES Corp. | 16,624 | 277,288 | |
TOTAL UTILITIES | 836,793 | ||
TOTAL COMMON STOCKS (Cost $37,599,481) | 43,994,808 | ||
Money Market Funds - 1.0% | |||
Shares | Value ($) | ||
State Street Institutional Treasury Plus Money Market Fund Trust Class 5.23% (b) (Cost $473,130) | 473,130 | 473,130 | |
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $38,072,611) | 44,467,938 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | (17,061) |
NET ASSETS - 100.0% | 44,450,877 |
(a) | Non-income producing |
(b) | The rate quoted is the annualized seven-day yield of the fund at period end. |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 417,085 | 417,085 | - | - |
Consumer Discretionary | 5,709,389 | 5,709,389 | - | - |
Consumer Staples | 1,729,317 | 1,729,317 | - | - |
Energy | 2,630,028 | 2,630,028 | - | - |
Financials | 7,446,722 | 7,446,722 | - | - |
Health Care | 4,588,029 | 4,588,029 | - | - |
Industrials | 10,303,560 | 10,303,560 | - | - |
Information Technology | 5,637,544 | 5,637,544 | - | - |
Materials | 3,095,232 | 3,095,232 | - | - |
Real Estate | 1,601,109 | 1,601,109 | - | - |
Utilities | 836,793 | 836,793 | - | - |
Money Market Funds | 473,130 | 473,130 | - | - |
Total Investments in Securities: | 44,467,938 | 44,467,938 | - | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $38,072,611): | $ | 44,467,938 | ||
Dividends receivable | 4,861 | |||
Total assets | 44,472,799 | |||
Liabilities | ||||
Accrued management fee | $ | 21,922 | ||
Total Liabilities | 21,922 | |||
Net Assets | $ | 44,450,877 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 42,232,901 | ||
Total accumulated earnings (loss) | 2,217,976 | |||
Net Assets | $ | 44,450,877 | ||
Net Asset Value, offering price and redemption price per share ($44,450,877 ÷ 1,900,000 shares) | $ | 23.40 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 210,204 | ||
Expenses | ||||
Management fee | $ | 112,501 | ||
Independent trustees' fees and expenses | 102 | |||
Total expenses before reductions | 112,603 | |||
Expense reductions | (3) | |||
Total expenses after reductions | 112,600 | |||
Net Investment income (loss) | 97,604 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Redemptions in-kind | 218,926 | |||
Unaffiliated issuers | (97,932) | |||
Foreign currency transactions | (2) | |||
Futures contracts | (8,071) | |||
Total net realized gain (loss) | 112,921 | |||
Change in net unrealized appreciation (depreciation) on investment securities | 1,494,813 | |||
Net gain (loss) | 1,607,734 | |||
Net increase (decrease) in net assets resulting from operations | $ | 1,705,338 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 97,604 | $ | 173,574 |
Net realized gain (loss) | 112,921 | (2,126,145) | ||
Change in net unrealized appreciation (depreciation) | 1,494,813 | 4,570,740 | ||
Net increase (decrease) in net assets resulting from operations | 1,705,338 | 2,618,169 | ||
Distributions to shareholders | (119,000) | (192,175) | ||
Share transactions | ||||
Proceeds from sales of shares | 8,218,191 | 5,939,963 | ||
Cost of shares redeemed | (502,189) | (964,910) | ||
Net increase (decrease) in net assets resulting from share transactions | 7,716,002 | 4,975,053 | ||
Total increase (decrease) in net assets | 9,302,340 | 7,401,047 | ||
Net Assets | ||||
Beginning of period | 35,148,537 | 27,747,490 | ||
End of period | $ | 44,450,877 | $ | 35,148,537 |
Other Information | ||||
Shares | ||||
Sold | 375,000 | 275,000 | ||
Redeemed | (25,000) | (50,000) | ||
Net increase (decrease) | 350,000 | 225,000 | ||
Fidelity® Fundamental Small-Mid Cap ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 A | |||||
Selected Per-Share Data | ||||||||
Net asset value, beginning of period | $ | 22.68 | $ | 20.94 | $ | 22.84 | $ | 20.00 |
Income from Investment Operations | ||||||||
Net investment income (loss) B,C | .06 | .12 | .10 | .03 | ||||
Net realized and unrealized gain (loss) | .73 | 1.76 | (1.89) | 2.84 | ||||
Total from investment operations | .79 | 1.88 | (1.79) | 2.87 | ||||
Distributions from net investment income | (.07) | (.14) | (.11) | (.03) | ||||
Total distributions | (.07) | (.14) | (.11) | (.03) | ||||
Net asset value, end of period | $ | 23.40 | $ | 22.68 | $ | 20.94 | $ | 22.84 |
Total Return D,E,F | 3.49% | 9.02% | (7.88)% | 14.36% | ||||
Ratios to Average Net Assets C,G,H | ||||||||
Expenses before reductions | .60% I | .60% | .62% | .64% I | ||||
Expenses net of fee waivers, if any | .60% I | .60% | .62% | .64% I | ||||
Expenses net of all reductions | .60% I | .60% | .62% | .63% I | ||||
Net investment income (loss) | .52% I | .59% | .45% | .22% I | ||||
Supplemental Data | ||||||||
Net assets, end of period (000 omitted) | $ | 44,451 | $ | 35,149 | $ | 27,747 | $ | 24,558 |
Portfolio turnover rate J,K | 35% I | 38% | 42% | 37% L |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 8.4 | |
NVIDIA Corp. | 4.9 | |
Amazon.com, Inc. | 4.5 | |
Meta Platforms, Inc. Class A | 3.5 | |
Alphabet, Inc. Class A | 3.3 | |
Broadcom, Inc. | 2.5 | |
UnitedHealth Group, Inc. | 2.3 | |
Visa, Inc. Class A | 2.3 | |
Eli Lilly & Co. | 2.3 | |
MasterCard, Inc. Class A | 2.1 | |
36.1 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 32.8 | |
Industrials | 14.7 | |
Health Care | 12.6 | |
Consumer Discretionary | 12.0 | |
Financials | 11.3 | |
Communication Services | 8.4 | |
Materials | 5.2 | |
Consumer Staples | 1.9 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 98.9% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 8.4% | |||
Interactive Media & Services - 8.4% | |||
Alphabet, Inc.: | |||
Class A (a) | 15,213 | 2,131,341 | |
Class C (a) | 7,478 | 1,060,380 | |
Meta Platforms, Inc. Class A | 5,684 | 2,217,556 | |
5,409,277 | |||
CONSUMER DISCRETIONARY - 12.0% | |||
Broadline Retail - 4.5% | |||
Amazon.com, Inc. (a) | 18,652 | 2,894,790 | |
Hotels, Restaurants & Leisure - 3.8% | |||
Airbnb, Inc. Class A (a) | 5,278 | 760,771 | |
Hilton Worldwide Holdings, Inc. | 4,545 | 867,913 | |
Marriott International, Inc. Class A | 3,229 | 774,088 | |
2,402,772 | |||
Specialty Retail - 3.7% | |||
AutoZone, Inc. (a) | 280 | 773,396 | |
O'Reilly Automotive, Inc. (a) | 754 | 771,380 | |
TJX Companies, Inc. | 8,524 | 809,013 | |
2,353,789 | |||
TOTAL CONSUMER DISCRETIONARY | 7,651,351 | ||
CONSUMER STAPLES - 1.9% | |||
Beverages - 0.0% | |||
Monster Beverage Corp. | 96 | 5,282 | |
Consumer Staples Distribution & Retail - 1.9% | |||
Costco Wholesale Corp. | 1,737 | 1,207,007 | |
TOTAL CONSUMER STAPLES | 1,212,289 | ||
FINANCIALS - 11.3% | |||
Capital Markets - 4.1% | |||
Ares Management Corp. | 5,783 | 702,519 | |
Moody's Corp. | 2,329 | 913,061 | |
S&P Global, Inc. | 2,237 | 1,002,959 | |
2,618,539 | |||
Financial Services - 4.5% | |||
MasterCard, Inc. Class A | 3,009 | 1,351,733 | |
Visa, Inc. Class A | 5,469 | 1,494,459 | |
2,846,192 | |||
Insurance - 2.7% | |||
Arthur J. Gallagher & Co. | 3,691 | 856,903 | |
Marsh & McLennan Companies, Inc. | 4,625 | 896,510 | |
1,753,413 | |||
TOTAL FINANCIALS | 7,218,144 | ||
HEALTH CARE - 12.6% | |||
Health Care Equipment & Supplies - 1.3% | |||
Boston Scientific Corp. (a) | 13,368 | 845,660 | |
Health Care Providers & Services - 3.5% | |||
Cencora, Inc. | 3,243 | 754,581 | |
Humana, Inc. | 16 | 6,049 | |
UnitedHealth Group, Inc. | 2,934 | 1,501,445 | |
2,262,075 | |||
Life Sciences Tools & Services - 3.1% | |||
Danaher Corp. | 3,823 | 917,176 | |
Thermo Fisher Scientific, Inc. | 1,951 | 1,051,550 | |
1,968,726 | |||
Pharmaceuticals - 4.7% | |||
Eli Lilly & Co. | 2,266 | 1,462,952 | |
Novo Nordisk A/S Series B sponsored ADR | 6,010 | 689,587 | |
Zoetis, Inc. Class A | 4,496 | 844,394 | |
2,996,933 | |||
TOTAL HEALTH CARE | 8,073,394 | ||
INDUSTRIALS - 14.7% | |||
Aerospace & Defense - 2.6% | |||
HEICO Corp. Class A | 5,352 | 757,147 | |
TransDigm Group, Inc. | 816 | 891,627 | |
1,648,774 | |||
Commercial Services & Supplies - 3.5% | |||
Cintas Corp. | 1,424 | 860,908 | |
Copart, Inc. | 15,611 | 749,952 | |
Waste Connections, Inc. (United States) | 4,127 | 640,758 | |
2,251,618 | |||
Construction & Engineering - 1.1% | |||
Quanta Services, Inc. | 3,546 | 688,101 | |
Electrical Equipment - 2.5% | |||
AMETEK, Inc. | 4,199 | 680,448 | |
Eaton Corp. PLC | 3,714 | 913,941 | |
1,594,389 | |||
Industrial Conglomerates - 1.4% | |||
General Electric Co. | 6,752 | 894,100 | |
Professional Services - 2.4% | |||
Automatic Data Processing, Inc. | 3,281 | 806,404 | |
Paychex, Inc. | 132 | 16,068 | |
Verisk Analytics, Inc. | 2,886 | 697,056 | |
1,519,528 | |||
Trading Companies & Distributors - 1.2% | |||
United Rentals, Inc. | 1,259 | 787,379 | |
TOTAL INDUSTRIALS | 9,383,889 | ||
INFORMATION TECHNOLOGY - 32.8% | |||
Communications Equipment - 1.2% | |||
Motorola Solutions, Inc. | 2,517 | 804,182 | |
Electronic Equipment, Instruments & Components - 2.6% | |||
Amphenol Corp. Class A | 8,453 | 854,598 | |
CDW Corp. | 3,659 | 829,568 | |
1,684,166 | |||
IT Services - 3.2% | |||
Accenture PLC Class A | 3,238 | 1,178,243 | |
Gartner, Inc. (a) | 1,890 | 864,562 | |
2,042,805 | |||
Semiconductors & Semiconductor Equipment - 11.7% | |||
ASML Holding NV (depository receipt) | 850 | 739,347 | |
Broadcom, Inc. | 1,323 | 1,561,140 | |
KLA Corp. | 1,635 | 971,255 | |
Lam Research Corp. | 1,263 | 1,042,190 | |
NVIDIA Corp. | 5,108 | 3,142,799 | |
ON Semiconductor Corp. (a) | 174 | 12,377 | |
7,469,108 | |||
Software - 14.1% | |||
Adobe, Inc. (a) | 1,767 | 1,091,617 | |
Cadence Design Systems, Inc. (a) | 2,819 | 813,169 | |
Intuit, Inc. | 1,518 | 958,359 | |
Microsoft Corp. | 13,497 | 5,366,137 | |
Synopsys, Inc. (a) | 1,486 | 792,558 | |
9,021,840 | |||
TOTAL INFORMATION TECHNOLOGY | 21,022,101 | ||
MATERIALS - 5.2% | |||
Chemicals - 2.8% | |||
Linde PLC | 2,561 | 1,036,770 | |
Sherwin-Williams Co. | 2,610 | 794,432 | |
1,831,202 | |||
Construction Materials - 2.4% | |||
Martin Marietta Materials, Inc. | 1,618 | 822,624 | |
Vulcan Materials Co. | 3,064 | 692,495 | |
1,515,119 | |||
TOTAL MATERIALS | 3,346,321 | ||
TOTAL COMMON STOCKS (Cost $49,518,758) | 63,316,766 | ||
Money Market Funds - 1.0% | |||
Shares | Value ($) | ||
State Street Institutional Treasury Plus Money Market Fund Trust Class 5.23% (b) (Cost $660,620) | 660,620 | 660,620 | |
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $50,179,378) | 63,977,386 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 73,446 |
NET ASSETS - 100.0% | 64,050,832 |
(a) | Non-income producing |
(b) | The rate quoted is the annualized seven-day yield of the fund at period end. |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 5,409,277 | 5,409,277 | - | - |
Consumer Discretionary | 7,651,351 | 7,651,351 | - | - |
Consumer Staples | 1,212,289 | 1,212,289 | - | - |
Financials | 7,218,144 | 7,218,144 | - | - |
Health Care | 8,073,394 | 8,073,394 | - | - |
Industrials | 9,383,889 | 9,383,889 | - | - |
Information Technology | 21,022,101 | 21,022,101 | - | - |
Materials | 3,346,321 | 3,346,321 | - | - |
Money Market Funds | 660,620 | 660,620 | - | - |
Total Investments in Securities: | 63,977,386 | 63,977,386 | - | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $50,179,378): | $ | 63,977,386 | ||
Cash | 5 | |||
Receivable for investments sold | 320,601 | |||
Receivable for fund shares sold | 1,255,913 | |||
Dividends receivable | 10,412 | |||
Total assets | 65,564,317 | |||
Liabilities | ||||
Payable for investments purchased | $ | 1,485,435 | ||
Accrued management fee | 28,050 | |||
Total Liabilities | 1,513,485 | |||
Net Assets | $ | 64,050,832 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 57,546,472 | ||
Total accumulated earnings (loss) | 6,504,360 | |||
Net Assets | $ | 64,050,832 | ||
Net Asset Value, offering price and redemption price per share ($64,050,832 ÷ 2,550,000 shares) | $ | 25.12 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 233,967 | ||
Expenses | ||||
Management fee | $ | 149,443 | ||
Independent trustees' fees and expenses | 142 | |||
Total expenses before reductions | 149,585 | |||
Expense reductions | (13) | |||
Total expenses after reductions | 149,572 | |||
Net Investment income (loss) | 84,395 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Redemptions in-kind | 948,872 | |||
Unaffiliated issuers | 414,040 | |||
Total net realized gain (loss) | 1,362,912 | |||
Change in net unrealized appreciation (depreciation) on investment securities | 4,907,657 | |||
Net gain (loss) | 6,270,569 | |||
Net increase (decrease) in net assets resulting from operations | $ | 6,354,964 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 84,395 | $ | 134,575 |
Net realized gain (loss) | 1,362,912 | (4,185,590) | ||
Change in net unrealized appreciation (depreciation) | 4,907,657 | 7,292,125 | ||
Net increase (decrease) in net assets resulting from operations | 6,354,964 | 3,241,110 | ||
Distributions to shareholders | (107,750) | (144,575) | ||
Share transactions | ||||
Proceeds from sales of shares | 12,078,177 | 4,485,324 | ||
Cost of shares redeemed | (4,549,415) | (3,834,411) | ||
Net increase (decrease) in net assets resulting from share transactions | 7,528,762 | 650,913 | ||
Total increase (decrease) in net assets | 13,775,976 | 3,747,448 | ||
Net Assets | ||||
Beginning of period | 50,274,856 | 46,527,408 | ||
End of period | $ | 64,050,832 | $ | 50,274,856 |
Other Information | ||||
Shares | ||||
Sold | 500,000 | 225,000 | ||
Redeemed | (200,000) | (200,000) | ||
Net increase (decrease) | 300,000 | 25,000 | ||
Fidelity® Magellan℠ ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 A | |||||
Selected Per-Share Data | ||||||||
Net asset value, beginning of period | $ | 22.34 | $ | 20.91 | $ | 23.12 | $ | 20.00 |
Income from Investment Operations | ||||||||
Net investment income (loss) B,C | .04 | .06 | .01 | - D | ||||
Net realized and unrealized gain (loss) | 2.79 | 1.44 | (2.20) | 3.13 | ||||
Total from investment operations | 2.83 | 1.50 | (2.19) | 3.13 | ||||
Distributions from net investment income | (.05) | (.07) | (.02) | (.01) | ||||
Total distributions | (.05) | (.07) | (.02) | (.01) | ||||
Net asset value, end of period | $ | 25.12 | $ | 22.34 | $ | 20.91 | $ | 23.12 |
Total Return E,F,G | 12.65% | 7.21% | (9.50)% | 15.65% | ||||
Ratios to Average Net Assets C,H,I | ||||||||
Expenses before reductions | .59% J | .59% | .59% | .59% J | ||||
Expenses net of fee waivers, if any | .59% J | .59% | .59% | .59% J | ||||
Expenses net of all reductions | .59% J | .59% | .59% | .59% J | ||||
Net investment income (loss) | .33% J | .30% | .05% | .01% J | ||||
Supplemental Data | ||||||||
Net assets, end of period (000 omitted) | $ | 64,051 | $ | 50,275 | $ | 46,527 | $ | 35,842 |
Portfolio turnover rate K,L | 77% J | 89% | 68% | 41% M |
Top Holdings (% of Fund's net assets) | ||
Prologis, Inc. | 11.4 | |
Equinix, Inc. | 7.5 | |
Crown Castle, Inc. | 6.4 | |
Ventas, Inc. | 5.9 | |
SBA Communications Corp. Class A | 5.8 | |
Public Storage | 4.2 | |
Digital Realty Trust, Inc. | 3.6 | |
Kimco Realty Corp. | 3.4 | |
CubeSmart | 3.2 | |
CBRE Group, Inc. | 3.1 | |
54.5 | ||
Top REIT Sectors (% of Fund's net assets) | ||
REITs - Diversified | 26.9 | |
REITs - Warehouse/Industrial | 13.4 | |
REITs - Shopping Centers | 11.6 | |
REITs - Apartments | 11.0 | |
REITs - Storage | 10.8 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 98.9% | |||
Shares | Value ($) | ||
Equity Real Estate Investment Trusts (REITs) - 94.0% | |||
REITs - Apartments - 11.0% | |||
American Homes 4 Rent Class A | 7,153 | 250,713 | |
Equity Residential (SBI) | 5,039 | 303,297 | |
Invitation Homes, Inc. | 5,285 | 174,035 | |
Mid-America Apartment Communities, Inc. | 2,946 | 372,315 | |
UDR, Inc. | 10,398 | 374,536 | |
1,474,896 | |||
REITs - Diversified - 26.9% | |||
Apartment Income (REIT) Corp. | 6,528 | 213,400 | |
Crown Castle, Inc. | 7,948 | 860,371 | |
Digital Realty Trust, Inc. | 3,475 | 488,099 | |
Elme Communities (SBI) | 1,912 | 27,686 | |
Equinix, Inc. | 1,213 | 1,006,511 | |
Gaming & Leisure Properties | 1,628 | 74,318 | |
Lamar Advertising Co. Class A | 1,584 | 165,813 | |
SBA Communications Corp. Class A | 3,469 | 776,570 | |
3,612,768 | |||
REITs - Health Care - 8.6% | |||
Ventas, Inc. | 17,111 | 793,779 | |
Welltower, Inc. | 4,066 | 351,750 | |
1,145,529 | |||
REITs - Hotels - 2.5% | |||
DiamondRock Hospitality Co. | 20,548 | 187,809 | |
Ryman Hospitality Properties, Inc. | 1,338 | 147,046 | |
334,855 | |||
REITs - Management/Investment - 4.5% | |||
NNN (REIT), Inc. | 10,400 | 419,536 | |
Weyerhaeuser Co. | 5,704 | 186,920 | |
606,456 | |||
REITs - Manufactured Homes - 3.6% | |||
Equity Lifestyle Properties, Inc. | 1,097 | 74,256 | |
Sun Communities, Inc. | 3,240 | 406,134 | |
480,390 | |||
REITs - Regional Malls - 0.4% | |||
Tanger, Inc. | 1,996 | 53,692 | |
REITs - Shopping Centers - 11.6% | |||
Kimco Realty Corp. | 22,838 | 461,328 | |
Phillips Edison & Co., Inc. | 5,790 | 200,971 | |
Realty Income Corp. | 4,898 | 266,402 | |
Regency Centers Corp. | 5,516 | 345,688 | |
SITE Centers Corp. | 9,419 | 125,461 | |
Urban Edge Properties | 9,100 | 157,157 | |
1,557,007 | |||
REITs - Single Tenant - 0.7% | |||
Four Corners Property Trust, Inc. | 4,014 | 93,968 | |
REITs - Storage - 10.8% | |||
CubeSmart | 9,951 | 430,082 | |
Extra Space Storage, Inc. | 1,049 | 151,518 | |
Iron Mountain, Inc. | 4,526 | 305,596 | |
Public Storage | 1,983 | 561,566 | |
1,448,762 | |||
REITs - Warehouse/Industrial - 13.4% | |||
Americold Realty Trust | 6,126 | 168,465 | |
Prologis, Inc. | 12,077 | 1,530,035 | |
Terreno Realty Corp. | 1,607 | 95,986 | |
1,794,486 | |||
TOTAL EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS) | 12,602,809 | ||
Real Estate Management & Development - 4.9% | |||
Real Estate Services - 4.9% | |||
CBRE Group, Inc. (a) | 4,875 | 420,761 | |
CoStar Group, Inc. (a) | 2,826 | 235,914 | |
656,675 | |||
TOTAL COMMON STOCKS (Cost $14,310,956) | 13,259,484 | ||
Money Market Funds - 1.1% | |||
Shares | Value ($) | ||
State Street Institutional Treasury Plus Money Market Fund Trust Class 5.23% (b) (Cost $147,035) | 147,035 | 147,035 | |
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $14,457,991) | 13,406,519 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | 2,858 |
NET ASSETS - 100.0% | 13,409,377 |
(a) | Non-income producing |
(b) | The rate quoted is the annualized seven-day yield of the fund at period end. |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Common Stocks | 13,259,484 | 13,259,484 | - | - |
Money Market Funds | 147,035 | 147,035 | - | - |
Total Investments in Securities: | 13,406,519 | 13,406,519 | - | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $14,457,991): | $ | 13,406,519 | ||
Dividends receivable | 8,223 | |||
Other receivables | 1,386 | |||
Total assets | 13,416,128 | |||
Liabilities | ||||
Accrued management fee | $ | 6,751 | ||
Total Liabilities | 6,751 | |||
Net Assets | $ | 13,409,377 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 15,981,201 | ||
Total accumulated earnings (loss) | (2,571,824) | |||
Net Assets | $ | 13,409,377 | ||
Net Asset Value, offering price and redemption price per share ($13,409,377 ÷ 650,000 shares) | $ | 20.63 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 196,086 | ||
Expenses | ||||
Management fee | $ | 40,228 | ||
Independent trustees' fees and expenses | 41 | |||
Total expenses before reductions | 40,269 | |||
Expense reductions | (1) | |||
Total expenses after reductions | 40,268 | |||
Net Investment income (loss) | 155,818 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Redemptions in-kind | 117,867 | |||
Unaffiliated issuers | (488,663) | |||
Total net realized gain (loss) | (370,796) | |||
Change in net unrealized appreciation (depreciation) on investment securities | 217,981 | |||
Net gain (loss) | (152,815) | |||
Net increase (decrease) in net assets resulting from operations | $ | 3,003 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 155,818 | $ | 408,264 |
Net realized gain (loss) | (370,796) | (777,839) | ||
Change in net unrealized appreciation (depreciation) | 217,981 | (1,729,975) | ||
Net increase (decrease) in net assets resulting from operations | 3,003 | (2,099,550) | ||
Distributions to shareholders | (193,100) | (452,000) | ||
Share transactions | ||||
Proceeds from sales of shares | - | 1,073,585 | ||
Cost of shares redeemed | (1,534,680) | (3,644,415) | ||
Net increase (decrease) in net assets resulting from share transactions | (1,534,680) | (2,570,830) | ||
Total increase (decrease) in net assets | (1,724,777) | (5,122,380) | ||
Net Assets | ||||
Beginning of period | 15,134,154 | 20,256,534 | ||
End of period | $ | 13,409,377 | $ | 15,134,154 |
Other Information | ||||
Shares | ||||
Sold | - | 50,000 | ||
Redeemed | (75,000) | (175,000) | ||
Net increase (decrease) | (75,000) | (125,000) | ||
Fidelity® Real Estate Investment ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 A | |||||
Selected Per-Share Data | ||||||||
Net asset value, beginning of period | $ | 20.87 | $ | 23.83 | $ | 24.79 | $ | 20.00 |
Income from Investment Operations | ||||||||
Net investment income (loss) B,C | .23 | .52 | .39 | .21 | ||||
Net realized and unrealized gain (loss) | (.18) | (2.91) | (.80) | 4.79 | ||||
Total from investment operations | .05 | (2.39) | (.41) | 5.00 | ||||
Distributions from net investment income | (.29) | (.57) | (.55) | (.21) | ||||
Total distributions | (.29) | (.57) | (.55) | (.21) | ||||
Net asset value, end of period | $ | 20.63 | $ | 20.87 | $ | 23.83 | $ | 24.79 |
Total Return D,E,F | .20% | (9.93)% | (1.68)% | 25.17% | ||||
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% | .58% I | ||||
Net investment income (loss) | 2.29% I | 2.49% | 1.58% | 1.80% I | ||||
Supplemental Data | ||||||||
Net assets, end of period (000 omitted) | $ | 13,409 | $ | 15,134 | $ | 20,257 | $ | 16,735 |
Portfolio turnover rate J,K | 39% I | 33% | 24% | 23% L |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 7.9 | |
NVIDIA Corp. | 5.1 | |
Amazon.com, Inc. | 3.7 | |
Alphabet, Inc. Class A | 3.3 | |
Apple, Inc. | 2.8 | |
The Travelers Companies, Inc. | 2.7 | |
Salesforce, Inc. | 2.3 | |
Merck & Co., Inc. | 2.3 | |
Cigna Group | 2.3 | |
Procter & Gamble Co. | 2.2 | |
34.6 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 26.7 | |
Financials | 12.7 | |
Health Care | 11.2 | |
Consumer Discretionary | 10.8 | |
Industrials | 9.9 | |
Communication Services | 8.3 | |
Consumer Staples | 5.1 | |
Materials | 4.6 | |
Energy | 2.7 | |
Utilities | 2.2 | |
Real Estate | 2.1 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 96.3% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 8.3% | |||
Entertainment - 2.9% | |||
Netflix, Inc. (a) | 163 | 91,950 | |
The Walt Disney Co. | 2,460 | 236,283 | |
328,233 | |||
Interactive Media & Services - 3.3% | |||
Alphabet, Inc. Class A (a) | 2,672 | 374,347 | |
Media - 2.1% | |||
Comcast Corp. Class A | 2,950 | 137,293 | |
Interpublic Group of Companies, Inc. | 3,216 | 106,096 | |
243,389 | |||
TOTAL COMMUNICATION SERVICES | 945,969 | ||
CONSUMER DISCRETIONARY - 10.8% | |||
Automobile Components - 0.6% | |||
Aptiv PLC (a) | 867 | 70,513 | |
Automobiles - 1.1% | |||
General Motors Co. | 2,353 | 91,296 | |
Tesla, Inc. (a) | 189 | 35,398 | |
126,694 | |||
Broadline Retail - 3.7% | |||
Amazon.com, Inc. (a) | 2,709 | 420,437 | |
Diversified Consumer Services - 0.5% | |||
Adtalem Global Education, Inc. (a) | 1,236 | 62,393 | |
Hotels, Restaurants & Leisure - 1.8% | |||
Marriott International, Inc. Class A | 839 | 201,133 | |
Household Durables - 0.9% | |||
Taylor Morrison Home Corp. (a) | 1,862 | 97,085 | |
Specialty Retail - 1.4% | |||
Lowe's Companies, Inc. | 752 | 160,056 | |
Textiles, Apparel & Luxury Goods - 0.8% | |||
Tapestry, Inc. | 2,429 | 94,221 | |
TOTAL CONSUMER DISCRETIONARY | 1,232,532 | ||
CONSUMER STAPLES - 5.1% | |||
Consumer Staples Distribution & Retail - 1.5% | |||
Albertsons Companies, Inc. | 4,665 | 98,991 | |
Sprouts Farmers Market LLC (a) | 1,479 | 74,497 | |
173,488 | |||
Food Products - 0.9% | |||
Darling Ingredients, Inc. (a) | 1,116 | 48,323 | |
Nomad Foods Ltd. | 2,789 | 50,174 | |
98,497 | |||
Household Products - 2.2% | |||
Procter & Gamble Co. | 1,615 | 253,781 | |
Personal Care Products - 0.5% | |||
Estee Lauder Companies, Inc. Class A | 414 | 54,644 | |
TOTAL CONSUMER STAPLES | 580,410 | ||
ENERGY - 2.7% | |||
Energy Equipment & Services - 1.2% | |||
Baker Hughes Co. Class A | 4,630 | 131,955 | |
Oil, Gas & Consumable Fuels - 1.5% | |||
Cheniere Energy, Inc. | 640 | 104,954 | |
Occidental Petroleum Corp. | 1,186 | 68,278 | |
173,232 | |||
TOTAL ENERGY | 305,187 | ||
FINANCIALS - 12.7% | |||
Banks - 1.2% | |||
Bank of America Corp. | 4,022 | 136,788 | |
Capital Markets - 4.9% | |||
BlackRock, Inc. Class A | 239 | 185,060 | |
Moody's Corp. | 581 | 227,775 | |
Northern Trust Corp. | 1,894 | 150,838 | |
563,673 | |||
Consumer Finance - 2.5% | |||
American Express Co. | 1,005 | 201,744 | |
Discover Financial Services | 811 | 85,577 | |
287,321 | |||
Financial Services - 1.4% | |||
MasterCard, Inc. Class A | 351 | 157,680 | |
Insurance - 2.7% | |||
The Travelers Companies, Inc. | 1,447 | 305,838 | |
TOTAL FINANCIALS | 1,451,300 | ||
HEALTH CARE - 11.2% | |||
Biotechnology - 0.3% | |||
Moderna, Inc. (a) | 359 | 36,277 | |
Health Care Providers & Services - 3.7% | |||
Centene Corp. (a) | 1,792 | 134,956 | |
Cigna Group | 866 | 260,623 | |
CVS Health Corp. | 309 | 22,980 | |
418,559 | |||
Life Sciences Tools & Services - 3.5% | |||
Danaher Corp. | 983 | 235,832 | |
ICON PLC (a) | 627 | 163,565 | |
399,397 | |||
Pharmaceuticals - 3.7% | |||
Merck & Co., Inc. | 2,200 | 265,716 | |
Zoetis, Inc. Class A | 863 | 162,080 | |
427,796 | |||
TOTAL HEALTH CARE | 1,282,029 | ||
INDUSTRIALS - 9.9% | |||
Air Freight & Logistics - 1.0% | |||
United Parcel Service, Inc. Class B | 797 | 113,094 | |
Building Products - 0.9% | |||
Johnson Controls International PLC | 1,915 | 100,901 | |
Commercial Services & Supplies - 0.2% | |||
Veralto Corp. | 330 | 25,308 | |
Electrical Equipment - 2.5% | |||
Acuity Brands, Inc. | 665 | 158,376 | |
Generac Holdings, Inc. (a) | 452 | 51,379 | |
Regal Rexnord Corp. | 600 | 80,076 | |
289,831 | |||
Machinery - 3.0% | |||
Deere & Co. | 264 | 103,905 | |
Energy Recovery, Inc. (a) | 1,571 | 24,366 | |
Ingersoll Rand, Inc. | 1,940 | 154,928 | |
Timken Co. | 726 | 59,467 | |
342,666 | |||
Professional Services - 2.3% | |||
KBR, Inc. | 3,552 | 185,095 | |
Manpower, Inc. | 1,110 | 82,295 | |
267,390 | |||
TOTAL INDUSTRIALS | 1,139,190 | ||
INFORMATION TECHNOLOGY - 26.7% | |||
IT Services - 2.8% | |||
Accenture PLC Class A | 697 | 253,624 | |
Okta, Inc. (a) | 827 | 68,352 | |
321,976 | |||
Semiconductors & Semiconductor Equipment - 7.7% | |||
Advanced Micro Devices, Inc. (a) | 791 | 132,643 | |
First Solar, Inc. (a) | 355 | 51,937 | |
NVIDIA Corp. | 943 | 580,200 | |
ON Semiconductor Corp. (a) | 1,700 | 120,921 | |
885,701 | |||
Software - 13.4% | |||
Autodesk, Inc. (a) | 568 | 144,164 | |
Intuit, Inc. | 336 | 212,127 | |
Microsoft Corp. | 2,288 | 909,661 | |
Salesforce, Inc. (a) | 950 | 267,036 | |
1,532,988 | |||
Technology Hardware, Storage & Peripherals - 2.8% | |||
Apple, Inc. | 1,727 | 318,459 | |
TOTAL INFORMATION TECHNOLOGY | 3,059,124 | ||
MATERIALS - 4.6% | |||
Chemicals - 1.9% | |||
Linde PLC | 526 | 212,941 | |
Containers & Packaging - 2.7% | |||
Avery Dennison Corp. | 994 | 198,253 | |
Crown Holdings, Inc. | 1,322 | 116,997 | |
315,250 | |||
TOTAL MATERIALS | 528,191 | ||
REAL ESTATE - 2.1% | |||
Equity Real Estate Investment Trusts (REITs) - 2.1% | |||
Prologis, Inc. | 1,900 | 240,711 | |
UTILITIES - 2.2% | |||
Electric Utilities - 1.1% | |||
NextEra Energy, Inc. | 2,224 | 130,393 | |
Independent Power and Renewable Electricity Producers - 0.5% | |||
Clearway Energy, Inc. Class C | 2,437 | 59,073 | |
Water Utilities - 0.6% | |||
American Water Works Co., Inc. | 543 | 67,343 | |
TOTAL UTILITIES | 256,809 | ||
TOTAL COMMON STOCKS (Cost $9,509,468) | 11,021,452 | ||
Money Market Funds - 2.5% | |||
Shares | Value ($) | ||
State Street Institutional Treasury Plus Money Market Fund Trust Class 5.23% (b) (Cost $290,572) | 290,572 | 290,572 | |
TOTAL INVESTMENT IN SECURITIES - 98.8% (Cost $9,800,040) | 11,312,024 |
NET OTHER ASSETS (LIABILITIES) - 1.2% | 135,140 |
NET ASSETS - 100.0% | 11,447,164 |
(a) | Non-income producing |
(b) | The rate quoted is the annualized seven-day yield of the fund at period end. |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 945,969 | 945,969 | - | - |
Consumer Discretionary | 1,232,532 | 1,232,532 | - | - |
Consumer Staples | 580,410 | 580,410 | - | - |
Energy | 305,187 | 305,187 | - | - |
Financials | 1,451,300 | 1,451,300 | - | - |
Health Care | 1,282,029 | 1,282,029 | - | - |
Industrials | 1,139,190 | 1,139,190 | - | - |
Information Technology | 3,059,124 | 3,059,124 | - | - |
Materials | 528,191 | 528,191 | - | - |
Real Estate | 240,711 | 240,711 | - | - |
Utilities | 256,809 | 256,809 | - | - |
Money Market Funds | 290,572 | 290,572 | - | - |
Total Investments in Securities: | 11,312,024 | 11,312,024 | - | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $9,800,040): | $ | 11,312,024 | ||
Receivable for investments sold | 291,118 | |||
Dividends receivable | 6,264 | |||
Total assets | 11,609,406 | |||
Liabilities | ||||
Payable for investments purchased | $ | 156,669 | ||
Accrued management fee | 5,573 | |||
Total Liabilities | 162,242 | |||
Net Assets | $ | 11,447,164 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 10,188,154 | ||
Total accumulated earnings (loss) | 1,259,010 | |||
Net Assets | $ | 11,447,164 | ||
Net Asset Value, offering price and redemption price per share ($11,447,164 ÷ 500,000 shares) | $ | 22.89 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 66,588 | ||
Expenses | ||||
Management fee | $ | 30,538 | ||
Independent trustees' fees and expenses | 29 | |||
Total Expenses | 30,567 | |||
Net Investment income (loss) | 36,021 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Redemptions in-kind | 100,431 | |||
Unaffiliated issuers | 199,244 | |||
Total net realized gain (loss) | 299,675 | |||
Change in net unrealized appreciation (depreciation) on investment securities | 315,166 | |||
Net gain (loss) | 614,841 | |||
Net increase (decrease) in net assets resulting from operations | $ | 650,862 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 36,021 | $ | 82,581 |
Net realized gain (loss) | 299,675 | (274,000) | ||
Change in net unrealized appreciation (depreciation) | 315,166 | 1,506,035 | ||
Net increase (decrease) in net assets resulting from operations | 650,862 | 1,314,616 | ||
Distributions to shareholders | (39,075) | (79,775) | ||
Share transactions | ||||
Proceeds from sales of shares | 1,048,136 | 3,318,417 | ||
Cost of shares redeemed | (529,329) | - | ||
Net increase (decrease) in net assets resulting from share transactions | 518,807 | 3,318,417 | ||
Total increase (decrease) in net assets | 1,130,594 | 4,553,258 | ||
Net Assets | ||||
Beginning of period | 10,316,570 | 5,763,312 | ||
End of period | $ | 11,447,164 | $ | 10,316,570 |
Other Information | ||||
Shares | ||||
Sold | 50,000 | 175,000 | ||
Redeemed | (25,000) | - | ||
Net increase (decrease) | 25,000 | 175,000 | ||
Fidelity® Sustainable U.S. Equity ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 A | |||||
Selected Per-Share Data | ||||||||
Net asset value, beginning of period | $ | 21.72 | $ | 19.21 | $ | 20.80 | $ | 20.00 |
Income from Investment Operations | ||||||||
Net investment income (loss) B,C | .07 | .20 D | .11 | - E | ||||
Net realized and unrealized gain (loss) | 1.18 | 2.51 | (1.57) | .80 | ||||
Total from investment operations | 1.25 | 2.71 | (1.46) | .80 | ||||
Distributions from net investment income | (.08) | (.20) | (.13) | - | ||||
Total distributions | (.08) | (.20) | (.13) | - | ||||
Net asset value, end of period | $ | 22.89 | $ | 21.72 | $ | 19.21 | $ | 20.80 |
Total Return F,G | 5.80% | 14.25% | (7.01)% | 3.99% | ||||
Ratios to Average Net Assets C,H,I | ||||||||
Expenses before reductions | .59% J | .59% | .59% | .59% J | ||||
Expenses net of fee waivers, if any | .59% J | .59% | .59% | .59% J | ||||
Expenses net of all reductions | .59% J | .59% | .59% | .59% J | ||||
Net investment income (loss) | .70% J | 1.06% D | .56% | (.07)% J | ||||
Supplemental Data | ||||||||
Net assets, end of period (000 omitted) | $ | 11,447 | $ | 10,317 | $ | 5,763 | $ | 3,120 |
Portfolio turnover rate K,L | 36% J | 45% | 66% | 23% M |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 4.2 | |
Amazon.com, Inc. | 3.1 | |
Accenture PLC Class A | 2.9 | |
The Walt Disney Co. | 2.2 | |
Salesforce, Inc. | 2.2 | |
Intuit, Inc. | 2.2 | |
Adobe, Inc. | 2.1 | |
Apple, Inc. | 1.9 | |
WEX, Inc. | 1.9 | |
Hologic, Inc. | 1.8 | |
24.5 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 29.4 | |
Financials | 13.7 | |
Industrials | 12.5 | |
Consumer Discretionary | 12.0 | |
Health Care | 11.3 | |
Communication Services | 6.3 | |
Materials | 3.9 | |
Energy | 2.8 | |
Utilities | 2.8 | |
Consumer Staples | 2.6 | |
Real Estate | 1.0 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 98.3% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 6.3% | |||
Entertainment - 3.5% | |||
Netflix, Inc. (a) | 38 | 21,436 | |
Roku, Inc. Class A (a) | 292 | 25,714 | |
The Walt Disney Co. | 823 | 79,049 | |
126,199 | |||
Interactive Media & Services - 1.4% | |||
Alphabet, Inc. Class C (a) | 349 | 49,488 | |
Media - 1.4% | |||
Interpublic Group of Companies, Inc. | 1,507 | 49,716 | |
TOTAL COMMUNICATION SERVICES | 225,403 | ||
CONSUMER DISCRETIONARY - 12.0% | |||
Automobiles - 0.8% | |||
General Motors Co. | 723 | 28,052 | |
Broadline Retail - 4.5% | |||
Amazon.com, Inc. (a) | 717 | 111,278 | |
Etsy, Inc. (a) | 467 | 31,084 | |
Kohl's Corp. | 684 | 17,620 | |
159,982 | |||
Diversified Consumer Services - 1.1% | |||
Adtalem Global Education, Inc. (a) | 423 | 21,353 | |
Bright Horizons Family Solutions, Inc. (a) | 178 | 17,489 | |
38,842 | |||
Hotels, Restaurants & Leisure - 1.5% | |||
Marriott International, Inc. Class A | 136 | 32,603 | |
Vail Resorts, Inc. | 102 | 22,644 | |
55,247 | |||
Household Durables - 1.0% | |||
Taylor Morrison Home Corp. (a) | 695 | 36,237 | |
Specialty Retail - 2.6% | |||
Aritzia, Inc. (a) | 833 | 20,267 | |
Best Buy Co., Inc. | 260 | 18,847 | |
Foot Locker, Inc. | 465 | 13,094 | |
Williams-Sonoma, Inc. | 223 | 43,126 | |
95,334 | |||
Textiles, Apparel & Luxury Goods - 0.5% | |||
Tapestry, Inc. | 447 | 17,339 | |
TOTAL CONSUMER DISCRETIONARY | 431,033 | ||
CONSUMER STAPLES - 2.6% | |||
Consumer Staples Distribution & Retail - 0.3% | |||
Maplebear, Inc. (NASDAQ) | 429 | 10,498 | |
Food Products - 0.5% | |||
Bunge Global SA | 199 | 17,530 | |
Household Products - 0.9% | |||
The Clorox Co. | 232 | 33,698 | |
Personal Care Products - 0.9% | |||
Estee Lauder Companies, Inc. Class A | 243 | 32,074 | |
TOTAL CONSUMER STAPLES | 93,800 | ||
ENERGY - 2.8% | |||
Energy Equipment & Services - 0.9% | |||
Baker Hughes Co. Class A | 1,168 | 33,288 | |
Oil, Gas & Consumable Fuels - 1.9% | |||
Antero Resources Corp. (a) | 940 | 21,000 | |
EQT Corp. | 527 | 18,656 | |
Occidental Petroleum Corp. | 462 | 26,597 | |
66,253 | |||
TOTAL ENERGY | 99,541 | ||
FINANCIALS - 13.7% | |||
Banks - 5.7% | |||
Bank of America Corp. | 1,882 | 64,007 | |
Citigroup, Inc. | 672 | 37,746 | |
Huntington Bancshares, Inc. | 2,507 | 31,914 | |
JPMorgan Chase & Co. | 278 | 48,472 | |
U.S. Bancorp | 502 | 20,853 | |
202,992 | |||
Capital Markets - 1.6% | |||
NASDAQ, Inc. | 1,022 | 59,041 | |
Financial Services - 3.0% | |||
MasterCard, Inc. Class A | 90 | 40,431 | |
WEX, Inc. (a) | 325 | 66,427 | |
106,858 | |||
Insurance - 3.4% | |||
Hartford Financial Services Group, Inc. | 482 | 41,915 | |
Marsh & McLennan Companies, Inc. | 162 | 31,402 | |
Progressive Corp. | 268 | 47,771 | |
121,088 | |||
TOTAL FINANCIALS | 489,979 | ||
HEALTH CARE - 11.3% | |||
Biotechnology - 1.6% | |||
Alnylam Pharmaceuticals, Inc. (a) | 125 | 21,614 | |
Moderna, Inc. (a) | 173 | 17,482 | |
Sage Therapeutics, Inc. (a) | 404 | 10,359 | |
Zai Lab Ltd. ADR (a) | 431 | 9,297 | |
58,752 | |||
Health Care Equipment & Supplies - 2.7% | |||
Hologic, Inc. (a) | 879 | 65,433 | |
Insulet Corp. (a) | 163 | 31,112 | |
96,545 | |||
Health Care Providers & Services - 4.5% | |||
Centene Corp. (a) | 611 | 46,014 | |
Cigna Group | 199 | 59,889 | |
Elevance Health, Inc. | 72 | 35,528 | |
Humana, Inc. | 57 | 21,549 | |
162,980 | |||
Life Sciences Tools & Services - 1.0% | |||
ICON PLC (a) | 135 | 35,217 | |
Pharmaceuticals - 1.5% | |||
Zoetis, Inc. Class A | 281 | 52,775 | |
TOTAL HEALTH CARE | 406,269 | ||
INDUSTRIALS - 12.5% | |||
Air Freight & Logistics - 1.7% | |||
FedEx Corp. | 115 | 27,748 | |
United Parcel Service, Inc. Class B | 228 | 32,353 | |
60,101 | |||
Commercial Services & Supplies - 0.3% | |||
Veralto Corp. | 155 | 11,887 | |
Electrical Equipment - 4.2% | |||
AMETEK, Inc. | 297 | 48,129 | |
Eaton Corp. PLC | 129 | 31,744 | |
nVent Electric PLC | 513 | 30,801 | |
Regal Rexnord Corp. | 172 | 22,955 | |
Sunrun, Inc. (a) | 1,184 | 17,144 | |
150,773 | |||
Ground Transportation - 0.4% | |||
ArcBest Corp. | 126 | 15,010 | |
Machinery - 3.9% | |||
Deere & Co. | 90 | 35,422 | |
Federal Signal Corp. | 469 | 36,104 | |
Hillenbrand, Inc. | 410 | 19,094 | |
Otis Worldwide Corp. | 278 | 24,586 | |
Parker Hannifin Corp. | 52 | 24,154 | |
139,360 | |||
Professional Services - 2.0% | |||
Leidos Holdings, Inc. | 236 | 26,071 | |
Manpower, Inc. | 262 | 19,425 | |
Science Applications International Corp. | 208 | 26,553 | |
72,049 | |||
TOTAL INDUSTRIALS | 449,180 | ||
INFORMATION TECHNOLOGY - 29.4% | |||
Communications Equipment - 0.9% | |||
Arista Networks, Inc. (a) | 126 | 32,594 | |
Electronic Equipment, Instruments & Components - 2.1% | |||
CDW Corp. | 204 | 46,251 | |
Insight Enterprises, Inc. (a) | 160 | 29,558 | |
75,809 | |||
IT Services - 2.9% | |||
Accenture PLC Class A | 286 | 104,070 | |
Semiconductors & Semiconductor Equipment - 7.6% | |||
Advanced Micro Devices, Inc. (a) | 236 | 39,575 | |
Axcelis Technologies, Inc. (a) | 101 | 13,135 | |
First Solar, Inc. (a) | 106 | 15,508 | |
Marvell Technology, Inc. | 513 | 34,730 | |
Micron Technology, Inc. | 359 | 30,784 | |
NVIDIA Corp. | 106 | 65,219 | |
NXP Semiconductors NV | 183 | 38,534 | |
SolarEdge Technologies, Inc. (a) | 217 | 14,431 | |
Universal Display Corp. | 111 | 18,844 | |
270,760 | |||
Software - 14.0% | |||
Adobe, Inc. (a) | 120 | 74,134 | |
Autodesk, Inc. (a) | 150 | 38,072 | |
HubSpot, Inc. (a) | 105 | 64,155 | |
Intuit, Inc. | 123 | 77,654 | |
Microsoft Corp. | 383 | 152,270 | |
Pagerduty, Inc. (a) | 639 | 15,132 | |
Salesforce, Inc. (a) | 279 | 78,424 | |
499,841 | |||
Technology Hardware, Storage & Peripherals - 1.9% | |||
Apple, Inc. | 372 | 68,597 | |
TOTAL INFORMATION TECHNOLOGY | 1,051,671 | ||
MATERIALS - 3.9% | |||
Chemicals - 2.3% | |||
Cabot Corp. | 284 | 20,476 | |
Celanese Corp. Class A | 170 | 24,869 | |
Eastman Chemical Co. | 226 | 18,882 | |
The Chemours Co. LLC | 576 | 17,378 | |
81,605 | |||
Construction Materials - 0.6% | |||
Summit Materials, Inc. (a) | 596 | 21,563 | |
Containers & Packaging - 0.6% | |||
Ball Corp. | 413 | 22,901 | |
Metals & Mining - 0.4% | |||
Schnitzer Steel Industries, Inc. Class A | 534 | 14,060 | |
TOTAL MATERIALS | 140,129 | ||
REAL ESTATE - 1.0% | |||
Equity Real Estate Investment Trusts (REITs) - 1.0% | |||
Ventas, Inc. | 735 | 34,097 | |
UTILITIES - 2.8% | |||
Electric Utilities - 1.0% | |||
NextEra Energy, Inc. | 597 | 35,002 | |
Independent Power and Renewable Electricity Producers - 0.7% | |||
Clearway Energy, Inc. Class C | 1,032 | 25,016 | |
Water Utilities - 1.1% | |||
American Water Works Co., Inc. | 312 | 38,694 | |
TOTAL UTILITIES | 98,712 | ||
TOTAL COMMON STOCKS (Cost $3,085,443) | 3,519,814 | ||
Money Market Funds - 1.9% | |||
Shares | Value ($) | ||
State Street Institutional Treasury Plus Money Market Fund Trust Class 5.23% (b) (Cost $66,900) | 66,900 | 66,900 | |
TOTAL INVESTMENT IN SECURITIES - 100.2% (Cost $3,152,343) | 3,586,714 |
NET OTHER ASSETS (LIABILITIES) - (0.2)% | (7,680) |
NET ASSETS - 100.0% | 3,579,034 |
(a) | Non-income producing |
(b) | The rate quoted is the annualized seven-day yield of the fund at period end. |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 225,403 | 225,403 | - | - |
Consumer Discretionary | 431,033 | 431,033 | - | - |
Consumer Staples | 93,800 | 93,800 | - | - |
Energy | 99,541 | 99,541 | - | - |
Financials | 489,979 | 489,979 | - | - |
Health Care | 406,269 | 406,269 | - | - |
Industrials | 449,180 | 449,180 | - | - |
Information Technology | 1,051,671 | 1,051,671 | - | - |
Materials | 140,129 | 140,129 | - | - |
Real Estate | 34,097 | 34,097 | - | - |
Utilities | 98,712 | 98,712 | - | - |
Money Market Funds | 66,900 | 66,900 | - | - |
Total Investments in Securities: | 3,586,714 | 3,586,714 | - | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $3,152,343): | $ | 3,586,714 | ||
Receivable for investments sold | 8,996 | |||
Dividends receivable | 1,451 | |||
Total assets | 3,597,161 | |||
Liabilities | ||||
Payable for investments purchased | $ | 16,373 | ||
Accrued management fee | 1,754 | |||
Total Liabilities | 18,127 | |||
Net Assets | $ | 3,579,034 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 3,547,462 | ||
Total accumulated earnings (loss) | 31,572 | |||
Net Assets | $ | 3,579,034 | ||
Net Asset Value, offering price and redemption price per share ($3,579,034 ÷ 175,000 shares) | $ | 20.45 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 23,082 | ||
Expenses | ||||
Management fee | $ | 9,849 | ||
Independent trustees' fees and expenses | 10 | |||
Total expenses before reductions | 9,859 | |||
Expense reductions | (2) | |||
Total expenses after reductions | 9,857 | |||
Net Investment income (loss) | 13,225 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 59,916 | |||
Foreign currency transactions | (1) | |||
Total net realized gain (loss) | 59,915 | |||
Change in net unrealized appreciation (depreciation) on investment securities | 92,511 | |||
Net gain (loss) | 152,426 | |||
Net increase (decrease) in net assets resulting from operations | $ | 165,651 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 13,225 | $ | 32,192 |
Net realized gain (loss) | 59,915 | (130,743) | ||
Change in net unrealized appreciation (depreciation) | 92,511 | 583,271 | ||
Net increase (decrease) in net assets resulting from operations | 165,651 | 484,720 | ||
Distributions to shareholders | (15,050) | (31,525) | ||
Share transactions | ||||
Proceeds from sales of shares | - | 2,547,748 | ||
Cost of shares redeemed | - | (2,199,862) | ||
Net increase (decrease) in net assets resulting from share transactions | - | 347,886 | ||
Total increase (decrease) in net assets | 150,601 | 801,081 | ||
Net Assets | ||||
Beginning of period | 3,428,433 | 2,627,352 | ||
End of period | $ | 3,579,034 | $ | 3,428,433 |
Other Information | ||||
Shares | ||||
Sold | - | 150,000 | ||
Redeemed | - | (125,000) | ||
Net increase (decrease) | - | 25,000 | ||
Fidelity® Women's Leadership ETF |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 A | |||||
Selected Per-Share Data | ||||||||
Net asset value, beginning of period | $ | 19.59 | $ | 17.52 | $ | 20.51 | $ | 20.00 |
Income from Investment Operations | ||||||||
Net investment income (loss) B,C | .08 | .16 | .11 | - D | ||||
Net realized and unrealized gain (loss) | .87 | 2.08 | (3.01) | .51 | ||||
Total from investment operations | .95 | 2.24 | (2.90) | .51 | ||||
Distributions from net investment income | (.09) | (.17) | (.09) | - | ||||
Total distributions | (.09) | (.17) | (.09) | - | ||||
Net asset value, end of period | $ | 20.45 | $ | 19.59 | $ | 17.52 | $ | 20.51 |
Total Return E,F,G | 4.85% | 12.98% | (14.14)% | 2.53% | ||||
Ratios to Average Net Assets C,H,I | ||||||||
Expenses before reductions | .59% J | .59% | .59% | .59% J | ||||
Expenses net of fee waivers, if any | .59% J | .59% | .59% | .59% J | ||||
Expenses net of all reductions | .59% J | .59% | .59% | .59% J | ||||
Net investment income (loss) | .79% J | .91% | .56% | .08% J | ||||
Supplemental Data | ||||||||
Net assets, end of period (000 omitted) | $ | 3,579 | $ | 3,428 | $ | 2,627 | $ | 2,051 |
Portfolio turnover rate K | 55% J | 72% L | 64% L | 5% L,M |
Tax cost | Gross unrealized appreciation | Gross unrealized depreciation | Net unrealized appreciation (depreciation) | |
Fidelity Blue Chip Growth ETF | $910,880,052 | $256,870,497 | $(35,570,442) | $221,300,055 |
Fidelity Blue Chip Value ETF | 107,855,294 | 15,847,670 | (5,148,182) | 10,699,488 |
Fidelity Fundamental Large Cap Core ETF | 156,368,573 | 35,303,920 | (1,408,450) | 33,895,470 |
Fidelity Fundamental Large Cap Growth ETF | 183,316,991 | 64,353,845 | (5,609,168) | 58,744,677 |
Fidelity Fundamental Small-Mid Cap ETF | 38,148,183 | 7,858,155 | (1,538,400) | 6,319,755 |
Fidelity Magellan ETF | 50,248,970 | 13,800,741 | (72,325) | 13,728,416 |
Fidelity Real Estate Investment ETF | 14,578,593 | 599,097 | (1,771,171) | (1,172,074) |
Fidelity Sustainable U.S. Equity ETF | 9,870,391 | 1,895,337 | (453,704) | 1,441,633 |
Fidelity Women's Leadership ETF | 3,207,745 | 589,363 | (210,394) | 378,969 |
Short-term | Long-term | Total capital loss carryforward | |
Fidelity Blue Chip Growth ETF | $(43,610,384) | $(26,343,438) | $(69,953,822) |
Fidelity Blue Chip Value ETF | (1,191,788) | (855,207) | (2,046,995) |
Fidelity Fundamental Large Cap Core ETF | (1,383,007) | (2,176,231) | (3,559,238) |
Fidelity Fundamental Large Cap Growth ETF | (13,365,074) | (5,352,164) | (18,717,238) |
Fidelity Fundamental Small-Mid Cap ETF | (2,433,568) | (1,753,576) | (4,187,144) |
Fidelity Magellan ETF | (6,595,196) | (1,923,313) | (8,518,509) |
Fidelity Real Estate Investment ETF | (406,757) | (553,403) | (960,160) |
Fidelity Sustainable U.S. Equity ETF | (174,560) | (289,118) | (463,678) |
Fidelity Women's Leadership ETF | (149,043) | (241,881) | (390,924) |
Ordinary losses | |
Fidelity Fundamental Large Cap Core ETF | $(136,801) |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |||||
Fidelity Blue Chip Growth ETF | 237,543,065 | 133,755,712 | ||||
Fidelity Blue Chip Value ETF | 19,336,005 | 18,540,971 | ||||
Fidelity Fundamental Large Cap Core ETF | 54,537,995 | 46,147,123 | ||||
Fidelity Fundamental Large Cap Growth ETF | 54,783,301 | 47,461,469 | ||||
Fidelity Fundamental Small-Mid Cap ETF | 9,693,803 | 6,489,494 | ||||
Fidelity Magellan ETF | 19,226,224 | 19,514,541 | ||||
Fidelity Real Estate Investment ETF | 2,622,430 | 2,639,659 | ||||
Fidelity Sustainable U.S. Equity ETF | 1,794,406 | 1,892,931 | ||||
Fidelity Women's Leadership ETF | 952,627 | 910,587 |
In-Kind Subscriptions ($) | In-Kind Redemptions ($) | |
Fidelity Blue Chip Growth ETF | 163,977,087 | 12,984,288 |
Fidelity Blue Chip Value ETF | 2,537,415 | 10,501,166 |
Fidelity Fundamental Large Cap Core ETF | 59,983,482 | 782,705 |
Fidelity Fundamental Large Cap Growth ETF | 20,981,643 | 645,027 |
Fidelity Fundamental Small-Mid Cap ETF | 4,900,963 | 482,646 |
Fidelity Magellan ETF | 10,927,551 | 3,839,156 |
Fidelity Real Estate Investment ETF | - | 1,486,077 |
Fidelity Sustainable U.S. Equity ETF | 800,439 | 398,411 |
Fee Rate | |
Fidelity Blue Chip Growth ETF | .59% |
Fidelity Blue Chip Value ETF | .59% |
Fidelity Fundamental Large Cap Core ETF | .59% |
Fidelity Fundamental Large Cap Growth ETF | .59% |
Fidelity Fundamental Small-Mid Cap ETF | .60% |
Fidelity Magellan ETF | .59% |
Fidelity Real Estate Investment ETF | .59% |
Fidelity Sustainable U.S. Equity ETF | .59% |
Fidelity Women's Leadership ETF | .59% |
Fee Rate | |
Fidelity Fundamental Large Cap Core ETF | .38% |
Fidelity Fundamental Large Cap Growth ETF | .38% |
Fidelity Fundamental Small-Mid Cap ETF | .43% |
Amount | |
Fidelity Blue Chip Growth ETF | $1,656 |
Fidelity Blue Chip Value ETF | 183 |
Fidelity Fundamental Large Cap Core ETF | 446 |
Fidelity Fundamental Large Cap Growth ETF | 581 |
Fidelity Fundamental Small-Mid Cap ETF | 147 |
Fidelity Magellan ETF | 116 |
Fidelity Real Estate Investment ETF | 59 |
Fidelity Sustainable U.S. Equity ETF | 19 |
Fidelity Women's Leadership ETF | 15 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Blue Chip Growth ETF | 4,639,452 | 2,142,813 | 80,904 |
Fidelity Blue Chip Value ETF | 1,207,109 | 255,054 | (826) |
Fidelity Fundamental Large Cap Core ETF | 2,315,200 | 1,126,908 | (82,799) |
Fidelity Fundamental Large Cap Growth ETF | 2,523,349 | 1,238,854 | (204,506) |
Fidelity Fundamental Small-Mid Cap ETF | 125,361 | 1,313,548 | 242,421 |
Fidelity Magellan ETF | 533,842 | 1,015,642 | 8,058 |
Fidelity Real Estate Investment ETF | 29,584 | 11,457 | (4,614) |
Fidelity Sustainable U.S. Equity ETF | 83,861 | 197,934 | 38,591 |
Fidelity Women's Leadership ETF | 3,643 | 17,789 | 1,119 |
Custodian credits | |
Fidelity Blue Chip Growth ETF | $203 |
Fidelity Fundamental Large Cap Core ETF | 5 |
Fidelity Fundamental Large Cap Growth ETF | 59 |
Fidelity Fundamental Small-Mid Cap ETF | 3 |
Fidelity Magellan ETF | 13 |
Fidelity Real Estate Investment ETF | 1 |
Fidelity Women's Leadership ETF | 2 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2023 to January 31, 2024). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2023 | Ending Account Value January 31, 2024 | Expenses Paid During Period- C August 1, 2023 to January 31, 2024 | |||||||
Fidelity® Blue Chip Growth ETF | .59% | |||||||||
Actual | $ 1,000 | $ 1,094.00 | $ 3.11 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.17 | $ 3.00 | |||||||
Fidelity® Blue Chip Value ETF | .59% | |||||||||
Actual | $ 1,000 | $ 1,019.50 | $ 3.00 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.17 | $ 3.00 | |||||||
Fidelity® Fundamental Large Cap Core ETF ** | .59% | |||||||||
Actual | $ 1,000 | $ 1,074.00 | $ 3.08 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.17 | $ 3.00 | |||||||
Fidelity® Fundamental Large Cap Growth ETF ** | .59% | |||||||||
Actual | $ 1,000 | $ 1,085.50 | $ 3.09 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.17 | $ 3.00 | |||||||
Fidelity® Fundamental Small-Mid Cap ETF ** | .60% | |||||||||
Actual | $ 1,000 | $ 1,034.90 | $ 3.07 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.12 | $ 3.05 | |||||||
Fidelity® Magellan℠ ETF | .59% | |||||||||
Actual | $ 1,000 | $ 1,126.50 | $ 3.15 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.17 | $ 3.00 | |||||||
Fidelity® Real Estate Investment ETF | .59% | |||||||||
Actual | $ 1,000 | $ 1,002.00 | $ 2.97 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.17 | $ 3.00 | |||||||
Fidelity® Sustainable U.S. Equity ETF | .59% | |||||||||
Actual | $ 1,000 | $ 1,058.00 | $ 3.05 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.17 | $ 3.00 | |||||||
Fidelity® Women's Leadership ETF | .59% | |||||||||
Actual | $ 1,000 | $ 1,048.50 | $ 3.04 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.17 | $ 3.00 | |||||||
Annualized Expense Ratio- A | Expenses Paid | |||||
Fidelity® Fundamental Large Cap Core ETF | .38% | |||||
Actual | $ 1.98 | |||||
Hypothetical- B | $ 1.93 | |||||
Fidelity® Fundamental Large Cap Growth ETF | .38% | |||||
Actual | $ 1.99 | |||||
Hypothetical- B | $ 1.93 | |||||
Fidelity® Fundamental Small-Mid Cap ETF | .43% | |||||
Actual | $ 2.20 | |||||
Hypothetical- B | $ 2.19 | |||||
A Annualized expense ratio reflects expenses net of applicable fee waivers. | ||||||
B 5% return per year before expenses |
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
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: | March 21, 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: | March 21, 2024 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | March 21, 2024 |