*The LSEG Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. 

The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is an objective, quantitative, risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. For more information, see lipperfundawards.com. Although LSEG Lipper makes reasonable efforts to ensure the accuracy and reliability of the data used to calculate the awards, their accuracy is not guaranteed. 

^†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. The Morningstar Rating^TM for funds, or “star rating,” is calculated for funds with at least a three-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. For extended performance ratings, the investment’s independent Morningstar Rating metric is then compared against the fund universe’s actual performance to determine its extended performance rating. Morningstar Extended Performance ratings shown are based on adjusted historical returns for periods prior to the class’ inception. These hypothetical calculated returns reflect the historical performance of the oldest share class of the fund, adjusted to reflect the fees and expenses of each respective class.

^ 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. Wall Street Journal (WSJ) is not affiliated with Fidelity Investments. 

Methodology per Wall Street Journal: Refinitiv Lipper ranks around 586 fixed income ETFs across a wide variety of subcategories, regions, and durations. We started by looking for funds that had a consistent track record, quality management, above-average returns and below-average fees. Beyond that, we looked for funds that had broad-based portfolios that produced for investors over time. We also consulted with fund experts at Morningstar, Refinitiv Lipper and VettaFi to come up with highly-ranked options offered by stable, trustworthy providers. Data such as fund returns, yields, expense ratios and assets under management were updated Oct. 11, 2023.

** The Morningstar Medalist Rating^TM 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/

FETH is not an investment company registered under the Investment Company Act of 1940 (the 1940 Act ) nor is it a commodity pool under the Commodity Exchange Act of 1936 (the CEA ). As a result, shareholders of FETH do not have the protections associated with ownership of shares in a registered investment company nor are shareholders afforded the protections of investing in an CEA-regulated instrument or commodity pool.

This product is for investors with a high risk tolerance and invests solely in ether, which is highly volatile and could become illiquid. Investors could lose their entire investment.

Digital assets are highly volatile, and their market movements are very difficult to predict. Various market forces may impact their value including, but not limited to, supply and demand, investors’ faith and their willingness to purchase it using traditional currencies, investors’ expectations with respect to the rate of inflation, interest rates, currency exchange rates, an evolving legislative and regulatory environment in the U.S. and abroad, and other economic trends. Investors also face other risks, including significant and negative price swings, flash crashes, and fraud and cybersecurity risks. Digital assets may also be more susceptible to market manipulation than securities.

The performance of the Fund will not reflect the specific return an investor would realize if the investor actually purchased ether. Investors in the Fund will not have any rights that ether holders have and will not have the right to receive any redemption proceeds in ether.