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Fidelity Active Fixed Income ETFs
Use Fidelity's Active Fixed Income ETFs to Help Meet Investor Needs
FBND
Morningstar Gold Medalist Rating
as of August 16, 20233
Analyst Driven %—100%
Data Coverage %—100%
Fidelity Total Bond ETF
Overall Morningstar Rating*—out 557 Intermediate Core-Plus Bond Funds2
A core bond ETF for investors seeking income and a measure of protection against stock market volatility:
- Invests primarily in high-quality bonds
- May add below-investment-grade bonds for additional income potential
- Has a diverse allocation, which may help the fund succeed in a variety of markets
Management Team: Franco Castagliuolo; Michael Foggin; Benjamin Harrison, CFA; Celso Muñoz, CFA; Ford O'Neil; and Michael Plage, CFA
FLTB
Morningstar Silver Medalist Rating
as of November 1 , 20233
Analyst Driven %—100%
Data Coverage %—100%
Fidelity Limited Term Bond ETF
Overall Morningstar Rating*—out of 534 Short-Term Bond Funds2
An ETF for income-seeking investors concerned about rising interest rates:
- Invests primarily in investment-grade bonds
- Keeps interest rate sensitivity low by focusing on shorter-maturity bonds
- Seeks to increase income by investing primarily in corporate bonds
Management Team: David DeBiase, CFA; Robert Galusza; Alexandre Karam; and Julian Potenza, CFA
Fidelity Corporate Bond ETF
Overall Morningstar Rating*—out of 178 Corporate Bond Funds2
An ETF for investors looking to increase income in the low-yield environment:
- Seeks income by investing primarily in investment-grade corporate bonds
- May offer lower volatility than investing in high-yield bonds and emerging-market debt
- Provides access to attractive relative value opportunities through Fidelity's world-class credit research capabilities
Management Team: Michael Bartlett; Jay Small, CFA; and Ben Tarlow, PhD
FIGB
Morningstar Bronze Medalist Rating
as of February 29, 20243
Analyst Driven %—55%
Data Coverage %—88%
Fidelity Investment Grade Bond ETF
Overall Morningstar Rating*—out of 426 Intermediate Core Bond Funds2
A core bond ETF for investors seeking one-stop access to a diverse group of high-quality U.S. bonds.
- Invests primarily in investment-grade bonds
- Seeks to provide income and capital preservation
- Offers core bond exposure with the opportunity to outperform the index
Management Team: Jeff Moore, CFA; Michael Plage, CFA
A building block bond ETF providing pure investment-grade securitized exposure
- Invests primarily in agency mortgage-backed securities, and secondarily in a variety of other securitized products.
- Leverages Fidelity's deep commitment to research to facilitate sector allocation and security selection decisions.
- Offers securitized exposure with the opportunity to outperform the index
Management Team: Franco Castagliuolo, CFA; Sean Corcoran, CFA
FTBD
Morningstar Silver Medalist Rating
as of February 29, 20243
Analyst Driven %—55%
Data Coverage %—88%
An ETF for investors seeking income from a global fixed income opportunity set
- Seeks to provide current income and capital appreciation
- Tactically adjusts allocations across the full spectrum of the debt market
- Leverages Fidelity's fundamental, macro, and quantitative research
Management Team: Benjamin Harrison, CFA; Jeff Moore, CFA; Michael Plage, CFA
* The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics, which are based on risk-adjusted returns. Past performance is no guarantee of future results. As of 3/31/24.
Featured Insights
The Power of Active Management
Learn about the merits of active management from Morningstar's 2016 Fixed Income Manager of the Year, Ford O'Neil.
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Product Performance and Resources
Fidelity Fixed Income Factor ETFs
Now with a five-year track record
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- 1. Expense Ratio is the fund's total annual fund operating expenses as available in each fund's prospectus and represents the expenses that you pay each year as a percentage of the value of your investment. Any applicable brokerage charges are not included in the expense ratio.
- 2. As of 3/31/24, the Morningstar Ratings for FBND were 4 stars and 4 stars for the 3- and 5-year periods out of 557 and 527 funds, respectively in the Intermediate Core-Plus Bond category; 2 stars and 3 stars for FLTB for both 3- and 5-year periods out of 534 and 494 funds, respectively in the Short-Term Bond category; 3 stars and 3 stars for FCOR for the 3- and 5-year periods out of 178 and 163 funds, respectively in the Corporate Bond category; and 4 stars for FIGB for the 3-year period out of 426 funds in the Intermediate Core Bond category. The Morningstar RatingTM for funds, or “star rating,” is calculated for funds with at least a 3-year history. (Exchange-traded funds and open-end mutual funds are considered a single population for comparative purposes.) It is calculated based on a Morningstar risk-adjusted return measure that accounts for variation in a fund’s monthly excess performance (excluding the effect of sales charges, if any), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each fund category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. Morningstar Rating is for the indicated share class only; other classes may have different performance characteristics.
- © Morningstar, Inc. All rights reserved. The Morningstar information contained herein (1) is proprietary to Morningstar and/or its content providers; (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. Fidelity does not review the Morningstar data and, for mutual fund performance, you should check the fund's current prospectus for the most up-to-date information concerning applicable loads, fees, and expenses.
- 3. The Morningstar Medalist RatingTM is a forward-looking analysis that considers a combination of qualitative and quantitative factors. Morningstar evaluates three key pillars when assessing a fund: People, Parent, and Process, coupled with a fee assessment. The Medalist Rating uses a scale of Gold (highest), Silver, Bronze, Neutral, and Negative (lowest). For the full rating methodology, please go to global.morningstar.com/managerdisclosures/.
- ETFs are subject to market fluctuation and the risks of their underlying investments. ETFs are subject to management fees and other expenses. The fund generally expects to effect its creations and redemptions for cash rather than in-kind securities, and may recognize more capital gains and be less tax efficient than if it were to redeem in-kind. There can be no assurance that an active trade market will be maintained, and trading may be halted due to market conditions.
- In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation, credit, and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so holding them until maturity to avoid losses caused by price volatility is not possible. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks, all of which are magnified in emerging markets. Lower-quality bonds can be more volatile and have greater risk of default than higher-quality bonds. The fund can invest in securities that may have a leveraging effect (such as derivatives and forward-settling securities) that may increase market exposure, magnify investment risks, and cause losses to be realized more quickly.
- It is not possible to invest directly in an index. All market indices are unmanaged.
- Investing involves risk, including risk of loss. You may gain or lose money over time. See individual fund pages for fund-specific risk.
- Diversification does not ensure a profit or guarantee against a loss.
- Third-party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliated company.