ACCOUNTS & TRADING
PREMIUM CONTENT & TOOLS
Fidelity InstitutionalSM
Important Additional Risk Information: Fidelity Active Equity ETFs; Fidelity Blue Chip Growth ETF, Fidelity Blue Chip Value ETF, Fidelity Growth Opportunities ETF, Fidelity Magellan ETF, Fidelity Growth Opportunities ETF, Fidelity Real Estate Investment ETF, Fidelity Small-Mid Cap Opportunities ETF. These ETFs are different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. These ETFs will not. This may create additional risks for your investment. For additional important risk information please see first footnote below. Past performance is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold.
Shares of the funds may be purchased throughout the day in a brokerage account. Unlike mutual funds, ETF shares are bought and sold at market price, which may be higher or lower than their NAV. Shares may only be redeemed directly with the fund by Authorized Participants in creation units. ETFs are subject to management fees as well as other expenses including brokerage commissions Please contact your investment professional for more information on applicable brokerage fees. View information about distribution related payments which may be paid to certain Fidelity employees.
Click on fund name for risk disclosures, prices, monthly and quarterly returns, fees, holdings and the fund's prospectus.
Important Additional Risk Information: Fidelity Active Equity ETFs These ETFs are different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. These ETFs will not. This may create additional risks for your investment. For example, you may have to pay more money to trade the shares of these ETFs. These ETFs will provide less information to traders, who tend to charge more for trades when they have less information; the price you pay to buy ETF shares on an exchange may not match the value of each ETF's portfolio. The same is true when you sell shares. These price differences may be greater for these ETFs compared to other ETFs because they provide less information to traders; these additional risks may be even greater in bad or uncertain market conditions; each ETF will publish on Fidelity.com and i.Fidelity.com a "Tracking Basket" designed to help trading in shares of the ETF. While the Tracking Basket includes some of the ETF's holdings, it is not the ETF's actual portfolio. The differences between these ETFs and other ETFs may also have some advantages. By keeping certain information about the ETFs secret, they may face less risk that other traders can predict or copy their investment strategy. This may improve the ETFs' performance. However, if the investment strategy can be predicted or copied, this may hurt the ETFs' performance. For additional information regarding the unique attributes and risks of these ETFs, see section below. The objective of the actively managed ETF Tracking Basket is to construct a portfolio of stocks and representative index ETFs that tracks the daily performance of an actively managed ETF without exposing current holdings, trading activities, or internal equity research. The Tracking Basket is designed to conceal any nonpublic information about the underlying portfolio and only uses the Fund's latest publicly disclosed holdings, representative ETFs, and the publicly known daily performance in its construction. You can gain access to the Tracking Basket and the Tracking Basket Weight overlap on Fidelity.com or i.Fidelity.com. Although the Tracking Basket is intended to provide investors with enough information to allow for an effective arbitrage mechanism that will keep the market price of the Fund at or close to the underlying NAV per share of the Fund, there is a risk (which may increase during periods of market disruption or volatility) that market prices will vary significantly from the underlying NAV of the Fund; ETFs trading on the basis of a published Tracking Basket may trade at a wider bid/ask spread than ETFs that publish their portfolios on a daily basis, especially during periods of market disruption or volatility, and, therefore, may cost investors more to trade, and although the Fund seeks to benefit from keeping its portfolio information secret, market participants may attempt to use the Tracking Basket to identify a Fund's trading strategy, which, if successful, could result in such market participants engaging in certain predatory trading practices that may have the potential to harm the Fund and its shareholders. Because shares are traded in the secondary market, a broker may charge a commission to execute a transaction in shares, and an investor may incur the cost of the spread between the price at which a dealer will buy shares and the price at which a dealer will sell shares.
Unlike mutual funds, ETF shares are bought and sold at market price, which may be higher or lower than their NAV, and are not individually redeemed from the fund.
Before investing in any exchange traded product, you should consider its investment objective, risks, charges and expenses. Contact Fidelity for a prospectus, or, if available, a summary prospectus containing this information. Read it carefully.
From time to time, FDC or its affiliates may pay its representatives additional compensation if they meet certain targets related to sales of the Fidelity funds, which may be weighted at different rates. Furthermore, certain representatives may be considered product specialists and may receive compensation, which may be weighted at different rates, solely for the sales of specific types of funds in which they specialize.