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Performance & Risk:  FIVA

FIDELITY INTERNATIONAL VALUE FACTOR ETF

18.7175   0.2175 (1.18%)

AS OF 8:00:00pm ET 07/10/2020 Quotes delayed at least 15 minutes.

Premium / Discount to NAV as of 06/30/2020

Premium Chart
Date Average
06/2020 0.50%
05/2020 0.23%
04/2020 0.30%
03/2020 0.76%
02/2020 0.02%
01/2020 0.08%
12/2019 0.13%
11/2019 0.29%
10/2019 0.05%
09/2019 0.24%
08/2019 -0.13%
07/2019 0.10%
1 Year Average0.25%

Growth of Hypothetical $10,000 * as of 06/30/2020

Growth Chart
Date Value
06/30/2020 $8,052.95
03/31/2020 $7,141.50
12/31/2019 $9,823.71
09/30/2019 $9,015.95
06/30/2019 $9,161.96
03/31/2019 $8,991.48
12/31/2018 $8,206.71
09/30/2018 $9,342.83
06/30/2018 $9,219.49
03/31/2018 $9,483.12
01/31/2018 $10,000.00

Cumulative Total Returns As of 07/10/2020

NAV Return Market Return Fidelity International Value Factor Index
AS OF 07/10/2020
YTD -17.49% -16.87% --
5 Day -0.57% -0.28% --
4 Week +0.24% +0.36% --
13 Week +10.14% +10.31% --
6 Month -17.79% -17.08% --
52 Week -11.99% -11.19% --

Month-End Average Annual Total Returns And Risks As of 06/30/2020

Returns Volatility(vs. Market Benchmark)
Average NAV Return Market Return Benchmark Index
(Fidelity International Value Factor Index)
AS OF 06/30/2020
Market Benchmark
(S&P 500 Index)
AS OF 06/30/2020
Alpha R2 Beta Standard
Deviation
Sharpe
Ratio
1 Year -12.07% -11.97% -- +7.48% -16.77% 78.89% 0.77% 29.08% -0.45%
3 Year -- -- -- -- -- -- -- -- --
5 Year -- -- -- -- -- -- -- -- --
10 Year -- -- -- -- -- -- -- -- --
Life -8.53% -8.93% -- +6.70% -- -- -- 21.37% -0.50%
Life as of NAV inception date: 01/16/2018   Life market returns are as of the first day the ETF traded on an exchange, which may occur a few days after the NAV inception date. Market returns are based on the closing price on the listed exchange at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times.

Quarter-End Average Annual Total Returns As of 06/30/2020

Return Before Taxes (pre-tax) Return After Taxes On Distribution (post tax) Return After Taxes On Distribution & Sale of Fund Shares (liquidation)
Average NAV Return Market Return NAV Return Market Return NAV Return Market Return
1 Year -12.07% -11.97% -13.11% -13.01% -7.16% -7.10%
3 Year -- -- -- -- -- --
5 Year -- -- -- -- -- --
10 Year -- -- -- -- -- --
Life -8.53% -8.93% -9.62% -10.01% -6.69% -6.98%
Life as of NAV inception date: 01/16/2018   Life market returns are as of the first day the ETF traded on an exchange, which may occur a few days after the NAV inception date. Market returns are based on the closing price on the listed exchange at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times.
Gross Expense Ratio: 0.39%

Tax-adjusted returns and tax cost ratio are estimates of the impact taxes have had on a fund. Assumes the highest tax rate in calculating and follow the SEC guidelines for calculating returns before sale of shares. Click here to learn more.

Risk

Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks. The securities of smaller, less well-known companies can be more volatile than those of larger companies. Value stocks can perform differently than other types of stocks and can continue to be undervalued by the market for long periods of time. There is no guarantee that a factor-based investing strategy will enhance performance or reduce risk. Before investing, make sure you understand how the fund's factor investment strategy may differ from more traditional index funds. Depending on market conditions, fund performance may underperform compared to funds that seek to track a market-capitalization weighted index. The return of an index ETF is usually different from that of the index it tracks because of fees, expenses and tracking error. An ETF may trade at a premium or discount to its Net Asset Value (NAV).Given the nature of the relevant markets for certain of the fund’s securities, shares may trade at a larger premium or discount to the NAV than shares of other ETFs as well as become less liquid in stressed market conditions.

Performance data shown represents past performance and 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. Current performance may be higher or lower than that quoted.

Quarter-End returns include all applicable recurring and non-recurring fees (including short-term trading or redemption fees) and charges, if any.

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. Unlike mutual funds, ETF shares are bought and sold at market price, which may be higher or lower than their NAV, and may only be redeemed directly with the fund by Authorized Participants in creation units.

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.

* A hypothetical $10,000 investment made in the fund ten years ago, or on commencement of operations for funds lacking a ten-year track record. Figures include reinvestment of capital gains and dividends, but do not reflect the effect of any applicable sales charges or redemption fees, which would lower these figures. This chart is not intended to imply any future performance of the fund.

The performance data shown represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. Yield and return will vary, therefore you have a gain or loss when you sell your shares. Click on the "Performance & Risk" link to view quarter-end performance.

Average annual total returns are historical and include change in share value and reinvestment of dividends and capital gains, if any. Cumulative total returns are reported as of the period indicated. Life of fund figures are reported as of the commencement date to the period indicated. Since ETFs are bought and sold at prices set by the market - which can result in a premium or discount to NAV- the returns calculated using market price (market return) can differ from those calculated using NAV (NAV return).

Basket holdings, asset allocation, market sectors, industry exposure, and geographical diversification are as of the date indicated and may not be representative of the fund's current or future investments.

© 2014 Morningstar, Inc. All rights reserved. The Morningstar information contained herein (1) is proprietary to Morningstar or its affiliates; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

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.


 
 

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