Fidelity Blue Chip Growth ETF
FBCG
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- Fidelity Blue Chip Growth ETF (FBCG) is an actively managed, semi-transparent exchange-traded fund that seeks long-term growth of capital by investing at least 80% of its assets in equity securities of blue chip growth companies, which Fidelity Management & Research Company LLC (FMR) defines as well-known, well-established, and well-capitalized firms with large or medium market capitalizations and above-average growth potential; the fund employs bottom-up fundamental analysis to select global stocks exhibiting sustainable business models, competitive advantages, pricing power, and catalysts such as product cycles or management changes, with a portfolio comprising approximately 178 holdings as of September 30, 2025, including top positions in NVIDIA Corp. (16.18%), Apple Inc. (9.21%), Microsoft Corp. (7.74%), Amazon.com Inc. (7.52%), and Alphabet Inc. Class A (5.83%), representing 61.48% of net assets. FBCG operates primarily in the large growth equity segment, benchmarked against the Russell 1000 Growth Index, with sector allocations emphasizing information technology (49.22%), consumer discretionary (17.39%), and communication services (16.09%), alongside minor international exposure in developed and emerging markets (3.90% combined); it trades on the Cboe BZX exchange, distributes dividends semi-annually or quarterly, and utilizes a proprietary tracking basket model to disclose holdings monthly with a 30-day lag rather than daily, distinguishing it from traditional transparent ETFs. Launched on June 2, 2020, by Fidelity Covington Trust (an affiliate of FMR LLC, headquartered in Smithfield, Rhode Island), FBCG has grown to manage approximately $4.97 billion in assets under management as of September 30, 2025, with portfolio managers Sonu Kalra and Michael Kim overseeing operations since inception; the fund targets institutional and retail investors seeking exposure to high-growth blue chips, particularly in technology-driven themes like generative AI, cloud computing, and e-commerce. In recent developments, the fund has seen robust inflows as part of Fidelity's expansion in active ETFs, gathering about $10 billion across its ETF suite in the first four months of 2025 amid strong demand for actively managed products, while its assets expanded significantly from prior years amid market rallies; portfolio adjustments through September 2025 included notable overweights in semiconductors like NVIDIA and Marvell Technology for AI exposure, additions to housing-related names such as Lowe's, RH, and Wayfair anticipating a cycle recovery from lower rates and pent-up demand, and trims in athleisure/apparel amid company-specific challenges, alongside maintaining conviction in Amazon.com for e-commerce growth. The benchmark Russell 1000 Growth Index implemented a quarterly capping methodology effective March 24, 2025, limiting any single constituent to 22.5% weight and the sum of those over 4.5% to no more than 45%, influencing comparative performance dynamics.