0000945908
fmr:C000171935Member
2025-07-31
2026-01-31
0000945908
fmr:C000171935Member
2026-01-31
0000945908
fmr:C000171935Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000171935Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000171935Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000171935Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000171935Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:C000171935Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000171935Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000171935Member
us-gaap:EnergySectorMember
2026-01-31
0000945908
fmr:C000171935Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:C000171935Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:C000171935Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000171935Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000171935Member
2026-01-31
0000945908
fmr:C000171935Member
country:US
2026-01-31
0000945908
fmr:C000171935Member
country:AU
2026-01-31
0000945908
fmr:C000171935Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000171935Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000171935Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000171935Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000171935Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000171935Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000171935Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000171935Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000171935Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000171935Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000218700Member
2025-07-31
2026-01-31
0000945908
fmr:C000218700Member
2026-01-31
0000945908
fmr:C000218700Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000218700Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000218700Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:C000218700Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000218700Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000218700Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000218700Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000218700Member
us-gaap:EnergySectorMember
2026-01-31
0000945908
fmr:C000218700Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:C000218700Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:C000218700Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000218700Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000218700Member
2026-01-31
0000945908
fmr:C000218700Member
country:US
2026-01-31
0000945908
fmr:C000218700Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000218700Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000218700Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000218700Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000218700Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000218700Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000218700Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000218700Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000218700Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000218700Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000215140Member
2025-07-31
2026-01-31
0000945908
fmr:C000215140Member
2026-01-31
0000945908
fmr:C000215140Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000215140Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000215140Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:C000215140Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000215140Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000215140Member
us-gaap:EnergySectorMember
2026-01-31
0000945908
fmr:C000215140Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000215140Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:C000215140Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000215140Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:C000215140Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000215140Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000215140Member
2026-01-31
0000945908
fmr:C000215140Member
country:US
2026-01-31
0000945908
fmr:C000215140Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000215140Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000215140Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000215140Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000215140Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000215140Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000215140Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000215140Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000215140Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000215140Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000209803Member
2025-07-31
2026-01-31
0000945908
fmr:C000209803Member
2026-01-31
0000945908
fmr:C000209803Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000209803Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000209803Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000209803Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000209803Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000209803Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:C000209803Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:C000209803Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000209803Member
us-gaap:EnergySectorMember
2026-01-31
0000945908
fmr:C000209803Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:C000209803Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000209803Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000209803Member
2026-01-31
0000945908
fmr:C000209803Member
country:US
2026-01-31
0000945908
fmr:C000209803Member
country:AU
2026-01-31
0000945908
fmr:C000209803Member
country:PR
2026-01-31
0000945908
fmr:C000209803Member
country:GB
2026-01-31
0000945908
fmr:C000209803Member
country:TH
2026-01-31
0000945908
fmr:C000209803Member
country:BM
2026-01-31
0000945908
fmr:C000209803Member
country:SE
2026-01-31
0000945908
fmr:C000209803Member
country:MC
2026-01-31
0000945908
fmr:C000209803Member
country:CA
2026-01-31
0000945908
fmr:C000209803Member
fmr:OtherMember
2026-01-31
0000945908
fmr:C000209803Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000209803Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000209803Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000209803Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000209803Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000209803Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000209803Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000209803Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000209803Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000209803Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000223347Member
2025-07-31
2026-01-31
0000945908
fmr:C000223347Member
2026-01-31
0000945908
fmr:C000223347Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000223347Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000223347Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000223347Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000223347Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000223347Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:C000223347Member
us-gaap:EnergySectorMember
2026-01-31
0000945908
fmr:C000223347Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:C000223347Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000223347Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:C000223347Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000223347Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000223347Member
2026-01-31
0000945908
fmr:C000223347Member
country:US
2026-01-31
0000945908
fmr:C000223347Member
country:CA
2026-01-31
0000945908
fmr:C000223347Member
country:GB
2026-01-31
0000945908
fmr:C000223347Member
country:TH
2026-01-31
0000945908
fmr:C000223347Member
country:IL
2026-01-31
0000945908
fmr:C000223347Member
country:PR
2026-01-31
0000945908
fmr:C000223347Member
country:NL
2026-01-31
0000945908
fmr:C000223347Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000223347Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000223347Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000223347Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000223347Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000223347Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000223347Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000223347Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000223347Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000223347Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000223346Member
2025-07-31
2026-01-31
0000945908
fmr:C000223346Member
2026-01-31
0000945908
fmr:C000223346Member
fmr:TI0Member
2026-01-31
0000945908
fmr:C000223346Member
fmr:TI1Member
2026-01-31
0000945908
fmr:C000223346Member
fmr:TI2Member
2026-01-31
0000945908
fmr:C000223346Member
fmr:TI3Member
2026-01-31
0000945908
fmr:C000223346Member
fmr:TI4Member
2026-01-31
0000945908
fmr:C000223346Member
fmr:TI5Member
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000223346Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000223346Member
2026-01-31
0000945908
fmr:C000223346Member
country:US
2026-01-31
0000945908
fmr:C000223346Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000223346Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000223346Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000223346Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000223346Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000223346Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000223346Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000223346Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000223346Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000223346Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000171934Member
2025-07-31
2026-01-31
0000945908
fmr:C000171934Member
2026-01-31
0000945908
fmr:C000171934Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000171934Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000171934Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000171934Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000171934Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:C000171934Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000171934Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000171934Member
us-gaap:EnergySectorMember
2026-01-31
0000945908
fmr:C000171934Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:C000171934Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:C000171934Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000171934Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000171934Member
2026-01-31
0000945908
fmr:C000171934Member
country:US
2026-01-31
0000945908
fmr:C000171934Member
country:AU
2026-01-31
0000945908
fmr:C000171934Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000171934Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000171934Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000171934Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000171934Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000171934Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000171934Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000171934Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000171934Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000171934Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000218330Member
2025-07-31
2026-01-31
0000945908
fmr:C000218330Member
2026-01-31
0000945908
fmr:C000218330Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000218330Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000218330Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000218330Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:C000218330Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000218330Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000218330Member
us-gaap:EnergySectorMember
2026-01-31
0000945908
fmr:C000218330Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000218330Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:C000218330Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:C000218330Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000218330Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000218330Member
2026-01-31
0000945908
fmr:C000218330Member
country:US
2026-01-31
0000945908
fmr:C000218330Member
country:CA
2026-01-31
0000945908
fmr:C000218330Member
country:TW
2026-01-31
0000945908
fmr:C000218330Member
country:GB
2026-01-31
0000945908
fmr:C000218330Member
country:DE
2026-01-31
0000945908
fmr:C000218330Member
country:NL
2026-01-31
0000945908
fmr:C000218330Member
country:ZM
2026-01-31
0000945908
fmr:C000218330Member
country:BR
2026-01-31
0000945908
fmr:C000218330Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000218330Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000218330Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000218330Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000218330Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000218330Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000218330Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000218330Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000218330Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000218330Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000171933Member
2025-07-31
2026-01-31
0000945908
fmr:C000171933Member
2026-01-31
0000945908
fmr:C000171933Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000171933Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000171933Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:C000171933Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000171933Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000171933Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000171933Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000171933Member
us-gaap:EnergySectorMember
2026-01-31
0000945908
fmr:C000171933Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:C000171933Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:C000171933Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000171933Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000171933Member
2026-01-31
0000945908
fmr:C000171933Member
country:US
2026-01-31
0000945908
fmr:C000171933Member
country:CA
2026-01-31
0000945908
fmr:C000171933Member
country:AU
2026-01-31
0000945908
fmr:C000171933Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000171933Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000171933Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000171933Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000171933Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000171933Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000171933Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000171933Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000171933Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000171933Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000223345Member
2025-07-31
2026-01-31
0000945908
fmr:C000223345Member
2026-01-31
0000945908
fmr:C000223345Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000223345Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000223345Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000223345Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000223345Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:C000223345Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000223345Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:C000223345Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:C000223345Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000223345Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000223345Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000223345Member
2026-01-31
0000945908
fmr:C000223345Member
country:US
2026-01-31
0000945908
fmr:C000223345Member
country:TW
2026-01-31
0000945908
fmr:C000223345Member
country:BR
2026-01-31
0000945908
fmr:C000223345Member
country:CA
2026-01-31
0000945908
fmr:C000223345Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000223345Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000223345Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000223345Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000223345Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000223345Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000223345Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000223345Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000223345Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000223345Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000171932Member
2025-07-31
2026-01-31
0000945908
fmr:C000171932Member
2026-01-31
0000945908
fmr:C000171932Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000171932Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000171932Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:C000171932Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000171932Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000171932Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000171932Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000171932Member
us-gaap:EnergySectorMember
2026-01-31
0000945908
fmr:C000171932Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:C000171932Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:C000171932Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000171932Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000171932Member
2026-01-31
0000945908
fmr:C000171932Member
country:US
2026-01-31
0000945908
fmr:C000171932Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000171932Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000171932Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000171932Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000171932Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000171932Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000171932Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000171932Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000171932Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000171932Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000171930Member
2025-07-31
2026-01-31
0000945908
fmr:C000171930Member
2026-01-31
0000945908
fmr:C000171930Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000171930Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000171930Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000171930Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:C000171930Member
us-gaap:EnergySectorMember
2026-01-31
0000945908
fmr:C000171930Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:C000171930Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000171930Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000171930Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:C000171930Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000171930Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000171930Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000171930Member
2026-01-31
0000945908
fmr:C000171930Member
country:US
2026-01-31
0000945908
fmr:C000171930Member
country:NL
2026-01-31
0000945908
fmr:C000171930Member
country:SE
2026-01-31
0000945908
fmr:C000171930Member
country:JP
2026-01-31
0000945908
fmr:C000171930Member
country:ID
2026-01-31
0000945908
fmr:C000171930Member
country:GB
2026-01-31
0000945908
fmr:C000171930Member
country:SG
2026-01-31
0000945908
fmr:C000171930Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000171930Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000171930Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000171930Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000171930Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000171930Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000171930Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000171930Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000171930Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000171930Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000223344Member
2025-07-31
2026-01-31
0000945908
fmr:C000223344Member
2026-01-31
0000945908
fmr:C000223344Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000223344Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:C000223344Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000223344Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000223344Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000223344Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000223344Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:C000223344Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:C000223344Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000223344Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:C000223344Member
us-gaap:EnergySectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000223344Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000223344Member
2026-01-31
0000945908
fmr:C000223344Member
country:US
2026-01-31
0000945908
fmr:C000223344Member
country:TW
2026-01-31
0000945908
fmr:C000223344Member
country:CA
2026-01-31
0000945908
fmr:C000223344Member
country:BE
2026-01-31
0000945908
fmr:C000223344Member
country:NL
2026-01-31
0000945908
fmr:C000223344Member
country:SG
2026-01-31
0000945908
fmr:C000223344Member
country:CN
2026-01-31
0000945908
fmr:C000223344Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000223344Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000223344Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000223344Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000223344Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000223344Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000223344Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000223344Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000223344Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000223344Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000171931Member
2025-07-31
2026-01-31
0000945908
fmr:C000171931Member
2026-01-31
0000945908
fmr:C000171931Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000171931Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000171931Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:C000171931Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000171931Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000171931Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000171931Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000171931Member
us-gaap:EnergySectorMember
2026-01-31
0000945908
fmr:C000171931Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:C000171931Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:C000171931Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000171931Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000171931Member
2026-01-31
0000945908
fmr:C000171931Member
country:US
2026-01-31
0000945908
fmr:C000171931Member
country:NL
2026-01-31
0000945908
fmr:C000171931Member
country:ID
2026-01-31
0000945908
fmr:C000171931Member
country:DE
2026-01-31
0000945908
fmr:C000171931Member
country:GB
2026-01-31
0000945908
fmr:C000171931Member
country:JP
2026-01-31
0000945908
fmr:C000171931Member
country:SG
2026-01-31
0000945908
fmr:C000171931Member
country:FR
2026-01-31
0000945908
fmr:C000171931Member
country:AU
2026-01-31
0000945908
fmr:C000171931Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000171931Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000171931Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000171931Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000171931Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000171931Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000171931Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000171931Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000171931Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000171931Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000218331Member
2025-07-31
2026-01-31
0000945908
fmr:C000218331Member
2026-01-31
0000945908
fmr:C000218331Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000218331Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000218331Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000218331Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000218331Member
us-gaap:EnergySectorMember
2026-01-31
0000945908
fmr:C000218331Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000218331Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:C000218331Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000218331Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:C000218331Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:C000218331Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000218331Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000218331Member
2026-01-31
0000945908
fmr:C000218331Member
country:US
2026-01-31
0000945908
fmr:C000218331Member
country:GB
2026-01-31
0000945908
fmr:C000218331Member
country:CA
2026-01-31
0000945908
fmr:C000218331Member
country:TW
2026-01-31
0000945908
fmr:C000218331Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000218331Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000218331Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000218331Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000218331Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000218331Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000218331Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000218331Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000218331Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000218331Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000218329Member
2025-07-31
2026-01-31
0000945908
fmr:C000218329Member
2026-01-31
0000945908
fmr:C000218329Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000218329Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000218329Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:C000218329Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000218329Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000218329Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000218329Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000218329Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:C000218329Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:C000218329Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:C000218329Member
us-gaap:EnergySectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000218329Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000218329Member
2026-01-31
0000945908
fmr:C000218329Member
country:US
2026-01-31
0000945908
fmr:C000218329Member
country:CA
2026-01-31
0000945908
fmr:C000218329Member
country:TW
2026-01-31
0000945908
fmr:C000218329Member
country:NL
2026-01-31
0000945908
fmr:C000218329Member
country:FI
2026-01-31
0000945908
fmr:C000218329Member
country:CH
2026-01-31
0000945908
fmr:C000218329Member
country:BR
2026-01-31
0000945908
fmr:C000218329Member
country:CN
2026-01-31
0000945908
fmr:C000218329Member
country:GB
2026-01-31
0000945908
fmr:C000218329Member
fmr:OtherMember
2026-01-31
0000945908
fmr:C000218329Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000218329Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000218329Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000218329Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000218329Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000218329Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000218329Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000218329Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000218329Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000218329Member
fmr:TH9Member
2026-01-31
0000945908
fmr:C000248142Member
2025-07-31
2026-01-31
0000945908
fmr:C000248142Member
2026-01-31
0000945908
fmr:C000248142Member
fmr:MSFinancialsSectorMember
2026-01-31
0000945908
fmr:C000248142Member
oef:IndustrialSectorMember
2026-01-31
0000945908
fmr:C000248142Member
us-gaap:HealthcareSectorMember
2026-01-31
0000945908
fmr:C000248142Member
oef:InformationTechnologySectorMember
2026-01-31
0000945908
fmr:C000248142Member
us-gaap:EnergySectorMember
2026-01-31
0000945908
fmr:C000248142Member
oef:ConsumerDiscretionarySectorMember
2026-01-31
0000945908
fmr:C000248142Member
oef:CommunicationsSectorMember
2026-01-31
0000945908
fmr:C000248142Member
oef:ConsumerStaplesSectorMember
2026-01-31
0000945908
fmr:C000248142Member
oef:MaterialsSectorMember
2026-01-31
0000945908
fmr:C000248142Member
us-gaap:RealEstateSectorMember
2026-01-31
0000945908
fmr:C000248142Member
oef:UtilitiesSectorMember
2026-01-31
0000945908
fmr:AACommonStocksMember
fmr:C000248142Member
2026-01-31
0000945908
fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember
fmr:C000248142Member
2026-01-31
0000945908
fmr:C000248142Member
country:US
2026-01-31
0000945908
fmr:C000248142Member
country:TW
2026-01-31
0000945908
fmr:C000248142Member
country:GB
2026-01-31
0000945908
fmr:C000248142Member
country:CA
2026-01-31
0000945908
fmr:C000248142Member
country:FR
2026-01-31
0000945908
fmr:C000248142Member
fmr:TH0Member
2026-01-31
0000945908
fmr:C000248142Member
fmr:TH1Member
2026-01-31
0000945908
fmr:C000248142Member
fmr:TH2Member
2026-01-31
0000945908
fmr:C000248142Member
fmr:TH3Member
2026-01-31
0000945908
fmr:C000248142Member
fmr:TH4Member
2026-01-31
0000945908
fmr:C000248142Member
fmr:TH5Member
2026-01-31
0000945908
fmr:C000248142Member
fmr:TH6Member
2026-01-31
0000945908
fmr:C000248142Member
fmr:TH7Member
2026-01-31
0000945908
fmr:C000248142Member
fmr:TH8Member
2026-01-31
0000945908
fmr:C000248142Member
fmr:TH9Member
2026-01-31
0000945908
2025-07-31
2026-01-31
iso4217:USD
pure
shares
N-CSRS
false
0000945908
N-1A
Fidelity Covington Trust
2026-01-31
Fidelity® Value Factor ETF
Fidelity® Value Factor ETF
FVAL
NYSEArca
This semi-annual shareholder report contains information about Fidelity® Value Factor ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Value Factor ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>8<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.15<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
8
0.0015
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,141,339,050</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">129</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">34<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
1141339050
129
0.34
MARKET SECTORS
(% of Fund's net assets)
Information Technology
30.1
Financials
12.8
Consumer Discretionary
9.9
Health Care
9.8
Communication Services
9.7
Industrials
9.7
Consumer Staples
4.1
Energy
3.0
Materials
2.3
Utilities
2.1
Real Estate
1.9
Common Stocks
95.4
Short-Term Investments and Net Other Assets (Liabilities)
4.6
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 95.4
Short-Term Investments and Net Other Assets (Liabilities) - 4.6
United States
99.7
Australia
0.3
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 99.7
Australia - 0.3
0.301
0.128
0.099
0.098
0.097
0.097
0.041
0.030
0.023
0.021
0.019
0.954
0.046
0.997
0.003
TOP HOLDINGS(% of Fund's net assets)
NVIDIA Corp
7.1
Apple Inc
6.2
Alphabet Inc Class A
5.1
Microsoft Corp
4.8
Micron Technology Inc
3.5
Amazon.com Inc
3.5
Meta Platforms Inc Class A
2.5
Tesla Inc
2.1
Eli Lilly & Co
1.9
Berkshire Hathaway Inc Class B
1.8
38.5
0.071
0.062
0.051
0.048
0.035
0.035
0.025
0.021
0.019
0.018
2026-01-31
Fidelity® U.S. Multifactor ETF
Fidelity® U.S. Multifactor ETF
FLRG
NYSEArca
This semi-annual shareholder report contains information about Fidelity® U.S. Multifactor ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® U.S. Multifactor ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>8<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.15<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
8
0.0015
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>276,240,633</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">105</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">32<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
276240633
105
0.32
MARKET SECTORS
(% of Fund's net assets)
Information Technology
31.2
Financials
13.1
Communication Services
10.6
Industrials
9.9
Health Care
9.9
Consumer Discretionary
9.2
Consumer Staples
4.7
Energy
3.2
Materials
2.8
Real Estate
2.0
Utilities
1.9
Common Stocks
98.5
Short-Term Investments and Net Other Assets (Liabilities)
1.5
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 98.5
Short-Term Investments and Net Other Assets (Liabilities) - 1.5
United States
100.0
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 100.0
0.312
0.131
0.106
0.099
0.099
0.092
0.047
0.032
0.028
0.020
0.019
0.985
0.015
1.000
TOP HOLDINGS(% of Fund's net assets)
NVIDIA Corp
7.5
Apple Inc
6.3
Alphabet Inc Class A
5.8
Microsoft Corp
5.1
Broadcom Inc
2.6
Meta Platforms Inc Class A
2.5
Newmont Corp
1.9
Johnson & Johnson
1.9
Visa Inc Class A
1.6
AbbVie Inc
1.5
36.7
0.075
0.063
0.058
0.051
0.026
0.025
0.019
0.019
0.016
0.015
2026-01-31
Fidelity® Stocks for Inflation ETF
Fidelity® Stocks for Inflation ETF
FCPI
CboeBZX
This semi-annual shareholder report contains information about Fidelity® Stocks for Inflation ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Stocks for Inflation ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>8<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.15<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
8
0.0015
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>243,366,617</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">103</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">66<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
243366617
103
0.66
MARKET SECTORS
(% of Fund's net assets)
Information Technology
27.8
Health Care
14.6
Materials
9.2
Consumer Staples
8.7
Financials
8.6
Energy
7.9
Consumer Discretionary
5.0
Communication Services
5.0
Industrials
4.9
Real Estate
4.4
Utilities
3.7
Common Stocks
99.8
Short-Term Investments and Net Other Assets (Liabilities)
0.2
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 99.8
Short-Term Investments and Net Other Assets (Liabilities) - 0.2
United States
100.0
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 100.0
0.278
0.146
0.092
0.087
0.086
0.079
0.050
0.050
0.049
0.044
0.037
0.998
0.002
1.000
TOP HOLDINGS(% of Fund's net assets)
NVIDIA Corp
6.4
Newmont Corp
6.0
Apple Inc
5.3
Microsoft Corp
4.4
CF Industries Holdings Inc
3.2
CNX Resources Corp
3.2
Alphabet Inc Class A
2.7
Simon Property Group Inc
2.6
Antero Midstream Corp
2.5
United Therapeutics Corp
2.3
38.6
0.064
0.060
0.053
0.044
0.032
0.032
0.027
0.026
0.025
0.023
2026-01-31
Fidelity® Small-Mid Multifactor ETF
Fidelity® Small-Mid Multifactor ETF
FSMD
NYSEArca
This semi-annual shareholder report contains information about Fidelity® Small-Mid Multifactor ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Small-Mid Multifactor ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>8<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.15<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
8
0.0015
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>2,035,382,635</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">589</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">52<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
2035382635
589
0.52
MARKET SECTORS
(% of Fund's net assets)
Industrials
22.9
Financials
17.6
Information Technology
12.5
Consumer Discretionary
11.6
Health Care
11.3
Real Estate
6.1
Materials
4.6
Consumer Staples
3.8
Energy
3.7
Communication Services
3.3
Utilities
2.5
Common Stocks
99.9
Short-Term Investments and Net Other Assets (Liabilities)
0.1
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 99.9
Short-Term Investments and Net Other Assets (Liabilities) - 0.1
United States
96.8
Australia
0.8
Puerto Rico
0.6
United Kingdom
0.5
Thailand
0.4
Bermuda
0.3
Sweden
0.2
Monaco
0.1
Canada
0.1
Others
0.2
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 96.8
Australia - 0.8
Puerto Rico - 0.6
United Kingdom - 0.5
Thailand - 0.4
Bermuda - 0.3
Sweden - 0.2
Monaco - 0.1
Canada - 0.1
Others - 0.2
0.229
0.176
0.125
0.116
0.113
0.061
0.046
0.038
0.037
0.033
0.025
0.999
0.001
0.968
0.008
0.006
0.005
0.004
0.003
0.002
0.001
0.001
0.002
TOP HOLDINGS(% of Fund's net assets)
Anglogold Ashanti Plc
0.8
Ciena Corp
0.8
Comfort Systems USA Inc
0.8
EMCOR Group Inc
0.7
Tapestry Inc
0.6
Flex Ltd
0.6
TechnipFMC PLC
0.5
United Therapeutics Corp
0.5
Curtiss-Wright Corp
0.5
CH Robinson Worldwide Inc
0.4
6.2
0.008
0.008
0.008
0.007
0.006
0.006
0.005
0.005
0.005
0.004
2026-01-31
Fidelity® Fundamental Small-Mid Cap ETF
Fidelity® Fundamental Small-Mid Cap ETF
FFSM
CboeBZX
This semi-annual shareholder report contains information about Fidelity® Fundamental Small-Mid Cap ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Fundamental Small-Mid Cap ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>24<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.43<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
24
0.0043
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,043,266,630</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">202</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">43<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
1043266630
202
0.43
MARKET SECTORS
(% of Fund's net assets)
Industrials
25.7
Financials
15.1
Information Technology
14.2
Consumer Discretionary
11.8
Health Care
10.6
Real Estate
5.5
Energy
5.1
Materials
4.1
Consumer Staples
3.6
Utilities
2.6
Communication Services
0.7
Common Stocks
99.0
Short-Term Investments and Net Other Assets (Liabilities)
1.0
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 99.0
Short-Term Investments and Net Other Assets (Liabilities) - 1.0
United States
93.0
Canada
2.4
United Kingdom
2.0
Thailand
1.7
Israel
0.5
Puerto Rico
0.3
Netherlands
0.1
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 93.0
Canada - 2.4
United Kingdom - 2.0
Thailand - 1.7
Israel - 0.5
Puerto Rico - 0.3
Netherlands - 0.1
0.257
0.151
0.142
0.118
0.106
0.055
0.051
0.041
0.036
0.026
0.007
0.990
0.010
0.930
0.024
0.020
0.017
0.005
0.003
0.001
TOP HOLDINGS(% of Fund's net assets)
TechnipFMC PLC
2.0
Somnigroup International Inc
1.8
Fabrinet
1.7
US Foods Holding Corp
1.4
Jones Lang LaSalle Inc
1.4
Lumentum Holdings Inc
1.3
ITT Inc
1.3
Advanced Energy Industries Inc
1.3
FirstCash Holdings Inc
1.3
Comfort Systems USA Inc
1.3
14.8
0.020
0.018
0.017
0.014
0.014
0.013
0.013
0.013
0.013
0.013
2026-01-31
Fidelity® Real Estate Investment ETF
Fidelity® Real Estate Investment ETF
FPRO
CboeBZX
This semi-annual shareholder report contains information about Fidelity® Real Estate Investment ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Real Estate Investment ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>29<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.57<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
29
0.0057
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>13,808,593</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">42</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">34<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
13808593
42
0.34
TOP INDUSTRIES
(% of Fund's net assets)
Specialized REITs
33.6
Retail REITs
17.4
Industrial REITs
15.3
Health Care REITs
12.9
Residential REITs
11.6
Real Estate Management & Development
8.3
Common Stocks
99.1
Short-Term Investments and Net Other Assets (Liabilities)
0.9
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 99.1
Short-Term Investments and Net Other Assets (Liabilities) - 0.9
United States
100.0
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 100.0
0.336
0.174
0.153
0.129
0.116
0.083
0.991
0.009
1.000
TOP HOLDINGS(% of Fund's net assets)
Prologis Inc
10.0
Equinix Inc
8.9
Welltower Inc
8.6
American Tower Corp
8.2
NNN REIT Inc
4.5
Kimco Realty Corp
4.2
Public Storage
4.1
CBRE Group Inc Class A
3.9
Digital Realty Trust Inc
3.8
UDR Inc
3.5
59.7
0.100
0.089
0.086
0.082
0.045
0.042
0.041
0.039
0.038
0.035
2026-01-31
Fidelity® Quality Factor ETF
Fidelity® Quality Factor ETF
FQAL
NYSEArca
This semi-annual shareholder report contains information about Fidelity® Quality Factor ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Quality Factor ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>8<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.15<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
8
0.0015
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,174,345,168</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">128</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">36<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
1174345168
128
0.36
MARKET SECTORS
(% of Fund's net assets)
Information Technology
31.3
Financials
12.1
Consumer Discretionary
9.6
Health Care
9.6
Communication Services
9.5
Industrials
8.8
Consumer Staples
4.6
Energy
3.0
Materials
2.4
Utilities
2.0
Real Estate
1.9
Common Stocks
94.8
Short-Term Investments and Net Other Assets (Liabilities)
5.2
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 94.8
Short-Term Investments and Net Other Assets (Liabilities) - 5.2
United States
99.7
Australia
0.3
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 99.7
Australia - 0.3
0.313
0.121
0.096
0.096
0.095
0.088
0.046
0.030
0.024
0.020
0.019
0.948
0.052
0.997
0.003
TOP HOLDINGS(% of Fund's net assets)
NVIDIA Corp
7.5
Apple Inc
6.5
Microsoft Corp
5.3
Alphabet Inc Class A
5.0
Broadcom Inc
3.0
Meta Platforms Inc Class A
2.6
Eli Lilly & Co
1.9
JPMorgan Chase & Co
1.9
Lam Research Corp
1.8
Johnson & Johnson
1.5
37.0
0.075
0.065
0.053
0.050
0.030
0.026
0.019
0.019
0.018
0.015
2026-01-31
Fidelity® Fundamental Large Cap Core ETF
Fidelity® Fundamental Large Cap Core ETF
FFLC
CboeBZX
This semi-annual shareholder report contains information about Fidelity® Fundamental Large Cap Core ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Fundamental Large Cap Core ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>20<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.38<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
20
0.0038
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>987,956,010</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">103</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">35<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
987956010
103
0.35
MARKET SECTORS
(% of Fund's net assets)
Information Technology
27.1
Financials
14.2
Industrials
12.7
Communication Services
12.4
Consumer Discretionary
9.0
Health Care
8.6
Energy
5.0
Consumer Staples
4.3
Materials
2.6
Utilities
1.8
Real Estate
1.3
Common Stocks
99.0
Short-Term Investments and Net Other Assets (Liabilities)
1.0
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 99.0
Short-Term Investments and Net Other Assets (Liabilities) - 1.0
United States
92.5
Canada
2.7
Taiwan
1.6
United Kingdom
1.3
Germany
0.7
Netherlands
0.5
Zambia
0.4
Brazil
0.3
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 92.5
Canada - 2.7
Taiwan - 1.6
United Kingdom - 1.3
Germany - 0.7
Netherlands - 0.5
Zambia - 0.4
Brazil - 0.3
0.271
0.142
0.127
0.124
0.090
0.086
0.050
0.043
0.026
0.018
0.013
0.990
0.010
0.925
0.027
0.016
0.013
0.007
0.005
0.004
0.003
TOP HOLDINGS(% of Fund's net assets)
NVIDIA Corp
8.1
Alphabet Inc Class A
6.8
Amazon.com Inc
4.8
Microsoft Corp
4.3
Meta Platforms Inc Class A
4.2
Apple Inc
3.7
Exxon Mobil Corp
2.5
Broadcom Inc
2.1
Wells Fargo & Co
2.1
Boeing Co
2.0
40.6
0.081
0.068
0.048
0.043
0.042
0.037
0.025
0.021
0.021
0.020
2026-01-31
Fidelity® Momentum Factor ETF
Fidelity® Momentum Factor ETF
FDMO
NYSEArca
This semi-annual shareholder report contains information about Fidelity® Momentum Factor ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Momentum Factor ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>8<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.15<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
8
0.0015
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>640,226,627</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">127</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">102<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
640226627
127
1.02
MARKET SECTORS
(% of Fund's net assets)
Information Technology
32.5
Financials
12.9
Communication Services
10.6
Consumer Discretionary
10.3
Industrials
9.9
Health Care
9.2
Consumer Staples
5.0
Energy
3.1
Materials
2.2
Utilities
2.1
Real Estate
2.1
Common Stocks
99.9
Short-Term Investments and Net Other Assets (Liabilities)
0.1
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 99.9
Short-Term Investments and Net Other Assets (Liabilities) - 0.1
United States
99.1
Canada
0.7
Australia
0.2
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 99.1
Canada - 0.7
Australia - 0.2
0.325
0.129
0.106
0.103
0.099
0.092
0.050
0.031
0.022
0.021
0.021
0.999
0.001
0.991
0.007
0.002
TOP HOLDINGS(% of Fund's net assets)
NVIDIA Corp
8.2
Alphabet Inc Class A
5.9
Microsoft Corp
5.9
Amazon.com Inc
4.1
Broadcom Inc
3.3
Meta Platforms Inc Class A
2.7
Micron Technology Inc
2.4
Tesla Inc
2.3
Lam Research Corp
1.9
Berkshire Hathaway Inc Class B
1.7
38.4
0.082
0.059
0.059
0.041
0.033
0.027
0.024
0.023
0.019
0.017
2026-01-31
Fidelity® Magellan℠ ETF
Fidelity® Magellan℠ ETF
FMAG
CboeBZX
This semi-annual shareholder report contains information about Fidelity® Magellan℠ ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Magellan℠ ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>28<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.57<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
28
0.0057
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>257,683,851</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">59</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">45<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
257683851
59
0.45
MARKET SECTORS
(% of Fund's net assets)
Information Technology
35.3
Industrials
15.9
Financials
15.8
Consumer Discretionary
11.9
Communication Services
6.2
Health Care
5.1
Materials
4.4
Utilities
2.3
Consumer Staples
1.8
Real Estate
1.2
Common Stocks
99.9
Short-Term Investments and Net Other Assets (Liabilities)
0.1
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 99.9
Short-Term Investments and Net Other Assets (Liabilities) - 0.1
United States
97.9
Taiwan
2.1
Brazil
0.0
Canada
0.0
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 97.9
Taiwan - 2.1
Brazil - 0.0
Canada - 0.0
0.353
0.159
0.158
0.119
0.062
0.051
0.044
0.023
0.018
0.012
0.999
0.001
0.979
0.021
0.000
0.000
TOP HOLDINGS(% of Fund's net assets)
NVIDIA Corp
10.7
Microsoft Corp
7.7
Amazon.com Inc
6.2
Broadcom Inc
4.8
Meta Platforms Inc Class A
4.7
Visa Inc Class A
2.2
Taiwan Semiconductor Manufacturing Co Ltd ADR
2.1
GE Aerospace
2.1
Mastercard Inc Class A
1.9
Synopsys Inc
1.9
44.3
0.107
0.077
0.062
0.048
0.047
0.022
0.021
0.021
0.019
0.019
2026-01-31
Fidelity® Low Volatility Factor ETF
Fidelity® Low Volatility Factor ETF
FDLO
NYSEArca
This semi-annual shareholder report contains information about Fidelity® Low Volatility Factor ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Low Volatility Factor ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>8<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.15<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
8
0.0015
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,473,815,257</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">128</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">31<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
1473815257
128
0.31
MARKET SECTORS
(% of Fund's net assets)
Information Technology
31.9
Financials
13.0
Communication Services
11.0
Health Care
10.1
Consumer Discretionary
10.0
Industrials
9.2
Consumer Staples
5.0
Energy
3.2
Utilities
2.2
Materials
2.2
Real Estate
2.0
Common Stocks
99.8
Short-Term Investments and Net Other Assets (Liabilities)
0.2
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 99.8
Short-Term Investments and Net Other Assets (Liabilities) - 0.2
United States
100.0
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 100.0
0.319
0.130
0.110
0.101
0.100
0.092
0.050
0.032
0.022
0.022
0.020
0.998
0.002
1.000
TOP HOLDINGS(% of Fund's net assets)
Apple Inc
7.5
Alphabet Inc Class A
6.0
Microsoft Corp
6.0
Amazon.com Inc
4.0
Broadcom Inc
3.7
Meta Platforms Inc Class A
2.7
Eli Lilly & Co
1.9
Berkshire Hathaway Inc Class B
1.8
JPMorgan Chase & Co
1.8
IBM Corporation
1.8
37.2
0.075
0.060
0.060
0.040
0.037
0.027
0.019
0.018
0.018
0.018
2026-01-31
Fidelity® High Dividend ETF
Fidelity® High Dividend ETF
FDVV
NYSEArca
This semi-annual shareholder report contains information about Fidelity® High Dividend ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® High Dividend ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>8<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.15<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
8
0.0015
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>8,474,119,904</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">108</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">0<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
8474119904
108
0
MARKET SECTORS
(% of Fund's net assets)
Information Technology
24.7
Financials
22.2
Consumer Staples
12.0
Utilities
9.6
Energy
9.5
Real Estate
8.4
Consumer Discretionary
4.2
Health Care
3.7
Communication Services
2.9
Industrials
2.6
Materials
0.0
Common Stocks
99.8
Short-Term Investments and Net Other Assets (Liabilities)
0.2
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 99.8
Short-Term Investments and Net Other Assets (Liabilities) - 0.2
United States
94.9
Netherlands
2.7
Sweden
1.6
Japan
0.3
Indonesia
0.2
United Kingdom
0.2
Singapore
0.1
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 94.9
Netherlands - 2.7
Sweden - 1.6
Japan - 0.3
Indonesia - 0.2
United Kingdom - 0.2
Singapore - 0.1
0.247
0.222
0.120
0.096
0.095
0.084
0.042
0.037
0.029
0.026
0.000
0.998
0.002
0.949
0.027
0.016
0.003
0.002
0.002
0.001
TOP HOLDINGS(% of Fund's net assets)
NVIDIA Corp
6.6
Apple Inc
5.4
Microsoft Corp
4.5
Broadcom Inc
2.8
JPMorgan Chase & Co
2.7
ABN AMRO Bank NV depository receipt
2.6
Exxon Mobil Corp
2.4
Philip Morris International Inc
2.2
Citigroup Inc
2.0
Coca-Cola Co/The
1.9
33.1
0.066
0.054
0.045
0.028
0.027
0.026
0.024
0.022
0.020
0.019
2026-01-31
Fidelity® Fundamental Large Cap Growth ETF
Fidelity® Fundamental Large Cap Growth ETF
FFLG
CboeBZX
This semi-annual shareholder report contains information about Fidelity® Fundamental Large Cap Growth ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Fundamental Large Cap Growth ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>20<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.38<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
20
0.0038
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>525,388,866</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">99</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">41<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
525388866
99
0.41
MARKET SECTORS
(% of Fund's net assets)
Information Technology
47.1
Communication Services
17.0
Consumer Discretionary
12.3
Health Care
7.9
Industrials
6.2
Financials
4.8
Materials
1.5
Real Estate
0.9
Consumer Staples
0.8
Utilities
0.5
Energy
0.1
Common Stocks
99.1
Short-Term Investments and Net Other Assets (Liabilities)
0.9
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 99.1
Short-Term Investments and Net Other Assets (Liabilities) - 0.9
United States
93.8
Taiwan
2.7
Canada
1.7
Belgium
0.8
Netherlands
0.7
Singapore
0.3
China
0.0
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 93.8
Taiwan - 2.7
Canada - 1.7
Belgium - 0.8
Netherlands - 0.7
Singapore - 0.3
China - 0.0
0.471
0.170
0.123
0.079
0.062
0.048
0.015
0.009
0.008
0.005
0.001
0.991
0.009
0.938
0.027
0.017
0.008
0.007
0.003
0.000
TOP HOLDINGS(% of Fund's net assets)
NVIDIA Corp
15.6
Apple Inc
8.1
Microsoft Corp
6.7
Amazon.com Inc
6.3
Alphabet Inc Class A
6.0
Meta Platforms Inc Class A
5.0
Broadcom Inc
3.4
Alphabet Inc Class C
2.9
Taiwan Semiconductor Manufacturing Co Ltd ADR
2.7
Mastercard Inc Class A
1.9
58.6
0.156
0.081
0.067
0.063
0.060
0.050
0.034
0.029
0.027
0.019
2026-01-31
Fidelity® Dividend ETF for Rising Rates
Fidelity® Dividend ETF for Rising Rates
FDRR
NYSEArca
This semi-annual shareholder report contains information about Fidelity® Dividend ETF for Rising Rates for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Dividend ETF for Rising Rates</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>8<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.15<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
8
0.0015
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>673,462,045</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">117</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">2<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
673462045
117
0.02
MARKET SECTORS
(% of Fund's net assets)
Information Technology
31.0
Financials
14.8
Communication Services
10.1
Consumer Discretionary
9.9
Industrials
9.8
Health Care
9.8
Consumer Staples
4.8
Energy
3.1
Utilities
2.2
Real Estate
2.0
Materials
1.6
Common Stocks
99.1
Short-Term Investments and Net Other Assets (Liabilities)
0.9
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 99.1
Short-Term Investments and Net Other Assets (Liabilities) - 0.9
United States
93.9
Netherlands
2.0
Indonesia
0.8
Germany
0.8
United Kingdom
0.7
Japan
0.7
Singapore
0.5
France
0.4
Australia
0.2
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 93.9
Netherlands - 2.0
Indonesia - 0.8
Germany - 0.8
United Kingdom - 0.7
Japan - 0.7
Singapore - 0.5
France - 0.4
Australia - 0.2
0.310
0.148
0.101
0.099
0.098
0.098
0.048
0.031
0.022
0.020
0.016
0.991
0.009
0.939
0.020
0.008
0.008
0.007
0.007
0.005
0.004
0.002
TOP HOLDINGS(% of Fund's net assets)
NVIDIA Corp
8.3
Apple Inc
6.7
Microsoft Corp
5.6
Alphabet Inc Class A
5.2
Broadcom Inc
3.5
Meta Platforms Inc Class A
2.5
JPMorgan Chase & Co
2.1
Eli Lilly & Co
2.0
Johnson & Johnson
1.7
ABN AMRO Bank NV depository receipt
1.6
39.2
0.083
0.067
0.056
0.052
0.035
0.025
0.021
0.020
0.017
0.016
2026-01-31
Fidelity® Blue Chip Value ETF
Fidelity® Blue Chip Value ETF
FBCV
CboeBZX
This semi-annual shareholder report contains information about Fidelity® Blue Chip Value ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Blue Chip Value ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>31<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.57<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
31
0.0057
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>156,465,398</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">117</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">58<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
156465398
117
0.58
MARKET SECTORS
(% of Fund's net assets)
Financials
23.0
Industrials
13.8
Health Care
11.1
Consumer Staples
10.1
Energy
9.0
Information Technology
8.0
Communication Services
8.0
Consumer Discretionary
7.6
Materials
4.9
Utilities
3.2
Real Estate
0.2
Common Stocks
98.9
Short-Term Investments and Net Other Assets (Liabilities)
1.1
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 98.9
Short-Term Investments and Net Other Assets (Liabilities) - 1.1
United States
93.9
United Kingdom
3.9
Canada
1.9
Taiwan
0.3
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 93.9
United Kingdom - 3.9
Canada - 1.9
Taiwan - 0.3
0.230
0.138
0.111
0.101
0.090
0.080
0.080
0.076
0.049
0.032
0.002
0.989
0.011
0.939
0.039
0.019
0.003
TOP HOLDINGS(% of Fund's net assets)
Exxon Mobil Corp
4.4
Alphabet Inc Class A
4.4
Amazon.com Inc
2.8
Bank of America Corp
2.7
Merck & Co Inc
2.3
Cisco Systems Inc
2.1
Travelers Companies Inc/The
2.0
Shell PLC ADR
2.0
Wells Fargo & Co
1.9
Cigna Group/The
1.8
26.4
0.044
0.044
0.028
0.027
0.023
0.021
0.020
0.020
0.019
0.018
2026-01-31
Fidelity® Blue Chip Growth ETF
Fidelity® Blue Chip Growth ETF
FBCG
CboeBZX
This semi-annual shareholder report contains information about Fidelity® Blue Chip Growth ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Blue Chip Growth ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>30<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.57<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
30
0.0057
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>5,499,322,432</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">203</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">44<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
5499322432
203
0.44
MARKET SECTORS
(% of Fund's net assets)
Information Technology
48.1
Consumer Discretionary
17.4
Communication Services
16.5
Health Care
6.6
Industrials
5.4
Financials
3.4
Consumer Staples
0.7
Real Estate
0.6
Materials
0.5
Utilities
0.4
Energy
0.3
Common Stocks
99.9
Short-Term Investments and Net Other Assets (Liabilities)
0.1
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 99.9
Short-Term Investments and Net Other Assets (Liabilities) - 0.1
United States
96.2
Canada
1.5
Taiwan
1.1
Netherlands
0.3
Finland
0.2
Switzerland
0.2
Brazil
0.1
China
0.1
United Kingdom
0.1
Others
0.2
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 96.2
Canada - 1.5
Taiwan - 1.1
Netherlands - 0.3
Finland - 0.2
Switzerland - 0.2
Brazil - 0.1
China - 0.1
United Kingdom - 0.1
Others - 0.2
0.481
0.174
0.165
0.066
0.054
0.034
0.007
0.006
0.005
0.004
0.003
0.999
0.001
0.962
0.015
0.011
0.003
0.002
0.002
0.001
0.001
0.001
0.002
TOP HOLDINGS(% of Fund's net assets)
NVIDIA Corp
15.7
Apple Inc
9.5
Alphabet Inc Class A
8.4
Amazon.com Inc
7.9
Microsoft Corp
6.1
Meta Platforms Inc Class A
4.8
Broadcom Inc
3.3
Eli Lilly & Co
2.6
Netflix Inc
2.0
Tesla Inc
1.6
61.9
0.157
0.095
0.084
0.079
0.061
0.048
0.033
0.026
0.020
0.016
2026-01-31
Fidelity® Fundamental Large Cap Value ETF
Fidelity® Fundamental Large Cap Value ETF
FFLV
CboeBZX
This semi-annual shareholder report contains information about Fidelity® Fundamental Large Cap Value ETF for the period August 1, 2025 to January 31, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-FIDELITY or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-800-FIDELITY
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Fundamental Large Cap Value ETF</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>21<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.38<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
21
0.0038
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of January 31, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>15,857,333</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">129</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">31<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
15857333
129
0.31
MARKET SECTORS
(% of Fund's net assets)
Financials
20.9
Industrials
12.0
Health Care
11.7
Information Technology
10.7
Energy
8.0
Consumer Discretionary
8.0
Communication Services
7.8
Consumer Staples
7.6
Materials
4.7
Real Estate
4.2
Utilities
3.7
Common Stocks
99.3
Short-Term Investments and Net Other Assets (Liabilities)
0.7
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 99.3
Short-Term Investments and Net Other Assets (Liabilities) - 0.7
United States
96.6
Taiwan
1.3
United Kingdom
1.1
Canada
0.9
France
0.1
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 96.6
Taiwan - 1.3
United Kingdom - 1.1
Canada - 0.9
France - 0.1
0.209
0.120
0.117
0.107
0.080
0.080
0.078
0.076
0.047
0.042
0.037
0.993
0.007
0.966
0.013
0.011
0.009
0.001
TOP HOLDINGS(% of Fund's net assets)
Alphabet Inc Class A
5.2
Exxon Mobil Corp
4.2
Wells Fargo & Co
3.1
Bank of America Corp
2.7
Travelers Companies Inc/The
2.4
Cisco Systems Inc
2.4
Hartford Insurance Group Inc/The
2.3
Johnson & Johnson
2.2
Merck & Co Inc
2.0
Gilead Sciences Inc
2.0
28.5
0.052
0.042
0.031
0.027
0.024
0.024
0.023
0.022
0.020
0.020