Fidelity Disruptive Automation ETF
FBOT
NASDAQ Global Market- -
USD
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Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 245 Summer Street Boston MA United States of America 2210
- IPO Date
- Jun 12, 2023
- Website
- digital.fidelity.com
- Similar Companies
- Business
- Fidelity Disruptive Automation ETF (FBOT) is an actively managed exchange-traded fund that seeks long-term growth of capital by investing at least 80% of its assets in securities of disruptive automation companies. These companies engage in designing and manufacturing automation technologies, enabling tools, and related processes, including robotics, artificial intelligence, machine vision, process sensors, pneumatic systems, autonomous driving, and 3D printing; the portfolio spans equity securities of domestic and foreign issuers across economic sectors such as information technology, industrials, consumer discretionary, and communications, with top holdings including Taiwan Semiconductor Manufacturing Co. Ltd., NVIDIA Corp., Deere & Co., Axon Enterprise Inc., and Teradyne Inc. The fund targets innovative businesses developing unconventional methods that could disrupt incumbents through new business models, value networks, pricing, and service delivery, employing fundamental analysis of issuers' financial conditions, industry positions, and market conditions alongside quantitative portfolio construction. Launched with a predecessor mutual fund on April 16, 2020, and reorganized into an ETF effective June 9, 2023, with shares first listed on Nasdaq on June 12, 2023, FBOT is issued by Fidelity Covington Trust, a statutory trust associated with Fidelity Investments, headquartered at 82 Devonshire Street in Boston, Massachusetts. The fund operates globally, with approximately 52% in domestic equities and 48% in international equities across developed markets (primarily Japan, Germany, and others) and emerging markets (including Taiwan and China), holding around 48-56 securities with a net expense ratio of 0.50% and total assets under management of approximately $154-164 million as of late 2025. Recent developments include portfolio manager changes, with David Wagner joining in January 2025 and Clayton Pfannenstiel added in September 2025 alongside original manager Michael Kim since inception, enhancing the team's expertise amid a volatile market environment marked by tariff concerns earlier in 2025 that temporarily depressed automation sector valuations. The reorganization from a mutual fund to an ETF structure in June 2023 improved accessibility and trading efficiency, aligning with Fidelity's broader expansion of disruptive-themed active ETFs; no major acquisitions, funding rounds, or new product launches specific to FBOT were reported in 2024-2025, though Fidelity Investments continued strategic enhancements in thematic investing and portfolio management across its offerings. As of September 30, 2025, the fund delivered a year-to-date NAV return of 16.69% and a one-year return of 21.35%, outperforming its Morningstar Global Large-Stock Growth category average.