Quarterly Holdings Report
for
Fidelity® International Multifactor ETF
January 31, 2023
IES-NPRT1-0423
1.9892243.103
Common Stocks - 99.3% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.8% | |||
Diversified Telecommunication Services - 4.5% | |||
Koninklijke KPN NV | 53,985 | 184,158 | |
Nippon Telegraph & Telephone Corp. | 6,800 | 203,511 | |
Swisscom AG | 337 | 198,073 | |
Telstra Group Ltd. | 71,955 | 206,869 | |
792,611 | |||
Entertainment - 1.0% | |||
Nexon Co. Ltd. | 7,400 | 177,823 | |
Interactive Media & Services - 1.8% | |||
Auto Trader Group PLC (a) | 21,307 | 164,469 | |
Rightmove PLC | 21,249 | 153,505 | |
317,974 | |||
Media - 1.3% | |||
Publicis Groupe SA | 3,378 | 237,510 | |
Wireless Telecommunication Services - 1.2% | |||
KDDI Corp. | 6,700 | 209,122 | |
TOTAL COMMUNICATION SERVICES | 1,735,040 | ||
CONSUMER DISCRETIONARY - 6.8% | |||
Auto Components - 0.2% | |||
NGK Spark Plug Co. Ltd. | 1,900 | 36,979 | |
Automobiles - 0.3% | |||
Honda Motor Co. Ltd. | 2,500 | 61,652 | |
Hotels, Restaurants & Leisure - 0.7% | |||
Compass Group PLC | 2,246 | 53,393 | |
InterContinental Hotel Group PLC | 559 | 38,525 | |
La Francaise des Jeux SAEM (a) | 352 | 15,005 | |
Sodexo SA | 173 | 17,101 | |
124,024 | |||
Household Durables - 1.1% | |||
Sekisui House Ltd. | 2,600 | 49,003 | |
Sony Group Corp. | 1,200 | 106,855 | |
Sumitomo Forestry Co. Ltd. | 2,500 | 46,445 | |
202,303 | |||
Leisure Products - 0.6% | |||
Bandai Namco Holdings, Inc. | 700 | 46,593 | |
SHIMANO, Inc. | 300 | 53,035 | |
99,628 | |||
Multiline Retail - 0.5% | |||
Dollarama, Inc. | 693 | 41,325 | |
Wesfarmers Ltd. | 1,190 | 41,633 | |
82,958 | |||
Specialty Retail - 0.7% | |||
Industria de Diseno Textil SA | 2,293 | 71,273 | |
JB Hi-Fi Ltd. | 599 | 20,420 | |
USS Co. Ltd. | 2,300 | 37,689 | |
129,382 | |||
Textiles, Apparel & Luxury Goods - 2.7% | |||
Compagnie Financiere Richemont SA Series A | 651 | 99,483 | |
Hermes International SCA | 29 | 53,999 | |
LVMH Moet Hennessy Louis Vuitton SE | 179 | 155,522 | |
Moncler SpA | 918 | 57,028 | |
Pandora A/S | 602 | 49,743 | |
Swatch Group AG (Bearer) | 175 | 62,819 | |
478,594 | |||
TOTAL CONSUMER DISCRETIONARY | 1,215,520 | ||
CONSUMER STAPLES - 13.8% | |||
Beverages - 2.1% | |||
Diageo PLC | 3,731 | 161,682 | |
Heineken Holding NV | 1,227 | 100,810 | |
Suntory Beverage & Food Ltd. | 3,300 | 111,146 | |
373,638 | |||
Food & Staples Retailing - 3.4% | |||
Axfood AB | 2,804 | 72,016 | |
Empire Co. Ltd. Class A (non-vtg.) | 4,022 | 115,414 | |
Jeronimo Martins SGPS SA | 3,964 | 85,844 | |
Koninklijke Ahold Delhaize NV | 4,191 | 124,647 | |
Loblaw Companies Ltd. | 1,433 | 128,013 | |
Tesco PLC | 27,846 | 84,297 | |
610,231 | |||
Food Products - 3.6% | |||
Nestle SA (Reg. S) | 3,563 | 432,331 | |
Orkla ASA | 10,760 | 80,170 | |
Toyo Suisan Kaisha Ltd. | 3,000 | 123,880 | |
636,381 | |||
Household Products - 0.6% | |||
Essity AB (B Shares) | 3,968 | 103,352 | |
Personal Products - 1.8% | |||
Beiersdorf AG | 896 | 108,598 | |
Unilever PLC | 4,003 | 202,471 | |
311,069 | |||
Tobacco - 2.3% | |||
British American Tobacco PLC (United Kingdom) | 3,965 | 151,125 | |
Imperial Brands PLC | 3,844 | 96,114 | |
Japan Tobacco, Inc. | 8,000 | 163,328 | |
410,567 | |||
TOTAL CONSUMER STAPLES | 2,445,238 | ||
ENERGY - 2.0% | |||
Oil, Gas & Consumable Fuels - 2.0% | |||
Canadian Natural Resources Ltd. | 790 | 48,353 | |
Crescent Point Energy Corp. | 3,439 | 25,618 | |
Eni SpA | 1,330 | 20,419 | |
Equinor ASA | 514 | 15,608 | |
Galp Energia SGPS SA Class B | 800 | 10,926 | |
Gaztransport et Technigaz SA | 56 | 6,173 | |
INPEX Corp. | 3,000 | 32,758 | |
Repsol SA | 991 | 16,241 | |
Shell PLC (London) | 2,615 | 76,427 | |
TotalEnergies SE | 884 | 54,705 | |
Vermilion Energy, Inc. | 1,043 | 15,946 | |
Whitecap Resources, Inc. | 3,459 | 28,748 | |
351,922 | |||
FINANCIALS - 16.2% | |||
Banks - 8.0% | |||
Banco de Sabadell SA | 80,069 | 104,133 | |
Bank Hapoalim BM (Reg.) | 6,162 | 55,103 | |
Bank Leumi le-Israel BM | 6,133 | 53,832 | |
Bank of Montreal | 704 | 70,645 | |
Bank of Nova Scotia | 1,234 | 66,613 | |
Barclays PLC | 42,712 | 97,720 | |
BOC Hong Kong (Holdings) Ltd. | 15,500 | 54,082 | |
CaixaBank SA | 19,845 | 87,655 | |
Canadian Imperial Bank of Commerce | 1,051 | 47,842 | |
Commonwealth Bank of Australia | 1,818 | 140,993 | |
Israel Discount Bank Ltd. (Class A) | 9,476 | 48,101 | |
Mizrahi Tefahot Bank Ltd. | 1,443 | 47,356 | |
Oversea-Chinese Banking Corp. Ltd. | 8,281 | 81,465 | |
Ringkjoebing Landbobank A/S | 467 | 67,700 | |
Royal Bank of Canada | 1,301 | 132,757 | |
Sumitomo Mitsui Trust Holdings, Inc. | 2,000 | 72,821 | |
The Toronto-Dominion Bank | 1,711 | 118,046 | |
United Overseas Bank Ltd. | 3,500 | 79,435 | |
1,426,299 | |||
Capital Markets - 2.7% | |||
ASX Ltd. | 680 | 33,048 | |
IG Group Holdings PLC | 6,326 | 61,992 | |
Investec PLC | 11,532 | 73,484 | |
Macquarie Group Ltd. | 550 | 72,605 | |
Man Group PLC | 21,439 | 65,641 | |
Singapore Exchange Ltd. | 6,900 | 48,403 | |
UBS Group AG | 5,888 | 124,585 | |
479,758 | |||
Diversified Financial Services - 0.5% | |||
Investor AB (B Shares) | 4,623 | 89,349 | |
Insurance - 5.0% | |||
Admiral Group PLC | 2,706 | 73,290 | |
Allianz SE | 594 | 141,409 | |
Assicurazioni Generali SpA | 4,210 | 81,844 | |
Baloise Holdings AG | 344 | 56,201 | |
Fairfax Financial Holdings Ltd. (sub. vtg.) | 50 | 33,007 | |
Intact Financial Corp. | 252 | 36,455 | |
Japan Post Holdings Co. Ltd. | 8,500 | 74,513 | |
Manulife Financial Corp. | 2,440 | 48,147 | |
Medibank Private Ltd. | 15,403 | 31,910 | |
Sompo Holdings, Inc. | 1,500 | 64,420 | |
Suncorp Group Ltd. | 5,037 | 44,473 | |
Tokio Marine Holdings, Inc. | 4,400 | 91,827 | |
Zurich Insurance Group Ltd. | 232 | 114,188 | |
891,684 | |||
TOTAL FINANCIALS | 2,887,090 | ||
HEALTH CARE - 15.9% | |||
Biotechnology - 0.9% | |||
CSL Ltd. | 740 | 155,431 | |
Health Care Equipment & Supplies - 1.7% | |||
Alcon, Inc. (Switzerland) | 1,089 | 81,383 | |
Coloplast A/S Series B | 639 | 76,738 | |
EssilorLuxottica SA | 246 | 44,858 | |
Sonova Holding AG | 178 | 44,154 | |
Straumann Holding AG | 439 | 56,837 | |
303,970 | |||
Health Care Providers & Services - 1.2% | |||
Galenica AG (a) | 631 | 49,106 | |
Medipal Holdings Corp. | 7,800 | 103,824 | |
Sonic Healthcare Ltd. | 2,605 | 57,969 | |
210,899 | |||
Pharmaceuticals - 12.1% | |||
Astellas Pharma, Inc. | 9,000 | 132,358 | |
AstraZeneca PLC (United Kingdom) | 2,052 | 267,526 | |
GSK PLC | 7,144 | 125,188 | |
Ipsen SA | 682 | 71,402 | |
Merck KGaA | 456 | 94,615 | |
Novartis AG | 2,984 | 267,821 | |
Novo Nordisk A/S Series B | 2,226 | 306,450 | |
Ono Pharmaceutical Co. Ltd. | 4,800 | 104,216 | |
Orion Oyj (B Shares) | 1,389 | 74,204 | |
Recordati SpA | 1,485 | 64,721 | |
Roche Holding AG (participation certificate) | 886 | 275,082 | |
Sanofi SA | 1,798 | 175,100 | |
Shionogi & Co. Ltd. | 2,400 | 114,108 | |
UCB SA | 945 | 77,364 | |
2,150,155 | |||
TOTAL HEALTH CARE | 2,820,455 | ||
INDUSTRIALS - 12.1% | |||
Aerospace & Defense - 1.3% | |||
BAE Systems PLC | 6,848 | 72,233 | |
Dassault Aviation SA | 436 | 74,200 | |
Thales SA | 559 | 73,702 | |
220,135 | |||
Air Freight & Logistics - 0.4% | |||
Deutsche Post AG | 1,685 | 72,065 | |
Building Products - 0.3% | |||
Geberit AG (Reg.) | 105 | 59,154 | |
Commercial Services & Supplies - 1.2% | |||
Dai Nippon Printing Co. Ltd. | 2,600 | 61,179 | |
Secom Co. Ltd. | 900 | 53,435 | |
Securitas AB (B Shares) | 4,785 | 43,573 | |
Toppan, Inc. | 3,400 | 54,564 | |
212,751 | |||
Construction & Engineering - 1.2% | |||
Kajima Corp. | 5,100 | 62,512 | |
Obayashi Corp. | 7,800 | 60,339 | |
Stantec, Inc. | 659 | 34,255 | |
Taisei Corp. | 1,800 | 62,009 | |
219,115 | |||
Industrial Conglomerates - 0.5% | |||
Jardine Matheson Holdings Ltd. | 1,677 | 88,915 | |
Machinery - 1.7% | |||
Atlas Copco AB (A Shares) | 6,140 | 72,333 | |
Epiroc AB (A Shares) | 2,810 | 54,457 | |
GEA Group AG | 1,132 | 50,836 | |
Knorr-Bremse AG | 682 | 44,560 | |
Kone OYJ (B Shares) | 1,513 | 82,225 | |
304,411 | |||
Marine - 0.6% | |||
A.P. Moller - Maersk A/S Series B | 24 | 51,908 | |
Kuehne & Nagel International AG | 195 | 46,184 | |
98,092 | |||
Professional Services - 2.0% | |||
Bureau Veritas SA | 2,403 | 68,481 | |
Experian PLC | 1,927 | 70,055 | |
RELX PLC (London Stock Exchange) | 2,954 | 87,353 | |
Teleperformance | 223 | 61,758 | |
Wolters Kluwer NV | 686 | 74,615 | |
362,262 | |||
Road & Rail - 0.9% | |||
Canadian National Railway Co. | 671 | 79,644 | |
Canadian Pacific Railway Ltd. | 1,056 | 83,112 | |
162,756 | |||
Trading Companies & Distributors - 2.0% | |||
Itochu Corp. | 2,900 | 93,281 | |
Mitsubishi Corp. | 2,800 | 93,358 | |
Mitsui & Co. Ltd. | 3,600 | 105,748 | |
Sojitz Corp. | 3,400 | 67,166 | |
359,553 | |||
TOTAL INDUSTRIALS | 2,159,209 | ||
INFORMATION TECHNOLOGY - 3.7% | |||
IT Services - 1.0% | |||
CGI, Inc. Class A (sub. vtg.) (b) | 291 | 24,870 | |
Edenred SA | 617 | 33,498 | |
Nomura Research Institute Ltd. | 1,300 | 30,989 | |
OBIC Co. Ltd. | 200 | 31,912 | |
TietoEVRY Oyj | 997 | 30,253 | |
TIS, Inc. | 1,200 | 34,419 | |
185,941 | |||
Semiconductors & Semiconductor Equipment - 1.1% | |||
ASML Holding NV (Netherlands) | 249 | 162,959 | |
Tower Semiconductor Ltd. (b) | 591 | 24,800 | |
187,759 | |||
Software - 1.1% | |||
Constellation Software, Inc. | 20 | 35,235 | |
Dassault Systemes SA | 928 | 34,328 | |
NICE Ltd. (b) | 147 | 30,247 | |
Open Text Corp. | 520 | 17,392 | |
Sage Group PLC | 3,394 | 32,457 | |
SimCorp A/S | 352 | 24,512 | |
Trend Micro, Inc. | 600 | 29,482 | |
203,653 | |||
Technology Hardware, Storage & Peripherals - 0.5% | |||
Canon, Inc. | 1,900 | 42,268 | |
FUJIFILM Holdings Corp. | 800 | 42,053 | |
84,321 | |||
TOTAL INFORMATION TECHNOLOGY | 661,674 | ||
MATERIALS - 4.2% | |||
Chemicals - 1.4% | |||
Ems-Chemie Holding AG | 45 | 33,282 | |
Icl Group Ltd. | 3,711 | 29,212 | |
K+S AG | 1,547 | 36,895 | |
Nissan Chemical Corp. | 900 | 42,216 | |
Novozymes A/S Series B | 619 | 32,071 | |
Tosoh Corp. | 3,300 | 43,012 | |
Yara International ASA | 843 | 37,304 | |
253,992 | |||
Metals & Mining - 2.5% | |||
Anglo American PLC (United Kingdom) | 1,578 | 67,343 | |
BHP Group Ltd. | 2,998 | 104,317 | |
Fortescue Metals Group Ltd. | 1,997 | 31,296 | |
Rio Tinto Ltd. | 400 | 35,695 | |
Rio Tinto PLC | 1,066 | 82,928 | |
SSAB AB (A Shares) | 7,283 | 51,712 | |
Teck Resources Ltd. Class B (sub. vtg.) | 1,741 | 75,102 | |
448,393 | |||
Paper & Forest Products - 0.3% | |||
West Fraser Timber Co. Ltd. | 518 | 44,911 | |
TOTAL MATERIALS | 747,296 | ||
REAL ESTATE - 7.0% | |||
Equity Real Estate Investment Trusts (REITs) - 3.2% | |||
Advance Residence Investment Corp. | 79 | 192,876 | |
Canadian Apartment Properties (REIT) unit | 5,446 | 200,804 | |
Safestore Holdings PLC | 14,589 | 180,683 | |
574,363 | |||
Real Estate Management & Development - 3.8% | |||
Daito Trust Construction Co. Ltd. | 2,300 | 226,737 | |
PSP Swiss Property AG | 1,990 | 246,706 | |
Sino Land Ltd. | 153,892 | 199,861 | |
673,304 | |||
TOTAL REAL ESTATE | 1,247,667 | ||
UTILITIES - 7.8% | |||
Electric Utilities - 3.3% | |||
ELIA GROUP SA/NV | 1,337 | 187,024 | |
Red Electrica Corporacion SA | 10,561 | 186,269 | |
SSE PLC | 10,178 | 215,957 | |
589,250 | |||
Gas Utilities - 3.4% | |||
Enagas SA | 10,624 | 189,976 | |
Osaka Gas Co. Ltd. | 13,300 | 214,260 | |
Snam SpA | 40,476 | 205,464 | |
609,700 | |||
Multi-Utilities - 1.1% | |||
Canadian Utilities Ltd. Class A (non-vtg.) | 6,834 | 189,397 | |
TOTAL UTILITIES | 1,388,347 | ||
TOTAL COMMON STOCKS (Cost $17,166,872) | 17,659,458 | ||
Money Market Funds - 0.3% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 4.38% (c) (Cost $45,082) | 45,073 | 45,082 | |
TOTAL INVESTMENT IN SECURITIES - 99.6% (Cost $17,211,954) | 17,704,540 |
NET OTHER ASSETS (LIABILITIES) - 0.4% (d) | 69,882 |
NET ASSETS - 100.0% | 17,774,422 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
ICE E-mini MSCI EAFE Index Contracts (United States) | 1 | Mar 2023 | 105,950 | 8,328 | 8,328 |
The notional amount of futures purchased as a percentage of Net Assets is 0.6% |
Legend
(a) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $228,580 or 1.3% of net assets. |
(b) | Non-income producing |
(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) | Includes $4,274 of cash collateral to cover margin requirements for futures contracts. |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 4.38% | - | 222,660 | 177,578 | 535 | - | - | 45,082 | 0.0% |
Total | - | 222,660 | 177,578 | 535 | - | - | 45,082 | |
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
Derivative Instruments
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
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.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.
The Fund used futures contracts to manage its exposure to the stock market.
Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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