Fidelity Canadian Monthly High Income ETF
FCMI.TO
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- Fidelity Canadian Monthly High Income ETF (FCMI.TO) is an exchange-traded fund launched and managed by Fidelity Investments Canada ULC and co-managed by Fidelity Management & Research Company LLC. The ETF, formed on January 16, 2020 and domiciled in Canada, primarily invests in underlying funds targeting a mix of public equities and fixed income securities across global markets to generate steady monthly income with potential for capital appreciation. Its equity allocations emphasize dividend-paying stocks via products such as Fidelity Canadian High Dividend Index ETF (40%), Fidelity International High Dividend ETF (12.5%), Fidelity U.S. Dividend for Rising Rates ETF (6.1%) and Fidelity U.S. High Dividend ETF (4.4%); fixed income holdings include Fidelity Global Core Plus Bond ETF (27%), Fidelity Systematic Canadian Bond Index ETF (3.6%) and others comprising high-yield and lower-quality debt; minor positions feature iShares DEX Real Return Bond Index (1.9%), iShares TIPS Bond ETF (0.5%), iShares Comex Gold Trust ETF (1.9%) and cash equivalents. The portfolio benchmarks a composite index of 40% S&P/TSX Canadian Dividend Aristocrats Index, 12% Russell 1000 Dividend Growth Index, 8% MSCI EAFE Dividend Masters Index, 20% FTSE Canada Universe Bond Index and 20% Bloomberg Global Aggregate Bond Index (Hedged CAD). Fidelity Investments Canada ULC, established in 1987 and headquartered at 483 Bay Street, Suite 300 in Toronto, Ontario, operates as part of the Fidelity Investments global network with over $210 billion in assets under management as of late 2023. The firm serves Canadian retail and institutional investors through a broad lineup of mutual funds, ETFs, managed portfolios and high-net-worth solutions, with regional offices in Montreal, Calgary and Vancouver. In March 2021, the ETF executed a 2-for-1 unit split after market close on March 3, with split-adjusted trading commencing March 4 to enhance liquidity and accessibility. More recently, Fidelity Investments Canada adjusted its benchmark composition effective August 17, 2022, incorporating updated underlying indices such as Fidelity Canada International High Dividend Index and Fidelity Canada Systematic Canadian Bond Index while maintaining the multi-asset income focus. The ETF continues monthly distributions, with a trailing 12-month yield of approximately 3.82% and net assets of $10.9 million as of recent data. No major acquisitions, partnerships or funding rounds specific to FCMI.TO have been reported in the last 1-2 years.