Fidelity MSCI Communication Services Index ETF
FCOM
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- Fidelity MSCI Communication Services Index ETF (FCOM) is an exchange-traded fund that seeks to provide investment returns corresponding, before fees and expenses, to the performance of the MSCI USA IMI Communication Services 25/50 Index; the fund employs a representative sampling technique to track this market-cap-weighted index comprising U.S. companies across the communication services sector, including diversified telecommunication services, media, entertainment, and interactive media and services; top holdings include Meta Platforms Inc., Alphabet Inc. (Class A and C shares), Netflix Inc., T-Mobile US Inc., Walt Disney Co., Comcast Corp., and Warner Bros. Discovery Inc., among over 100 positions spanning large-, mid-, and small-cap equities. Launched on October 21, 2013, FCOM is issued by Fidelity Covington Trust, domiciled in the United States, and listed on NYSE Arca, with assets under management exceeding $1.8 billion as of late 2025, a net expense ratio of 0.08%, and quarterly distributions. The ETF targets investors seeking exposure to the U.S. communication services industry, which encompasses providers of wireless and wired telecommunications, cable and satellite services, broadcasting, publishing, and digital advertising platforms. Geographically, it focuses exclusively on U.S.-based equities, serving institutional and retail investors through brokerage platforms. Managed by a team including Jennifer Hsui (since inception), Peter Sietsema, Matt Waldron, and Steven White (as of June 2025), the fund maintains a passive investment style with daily pricing and no reported major structural changes, funding rounds, acquisitions, or new product launches specific to FCOM in the last 1-2 years; it continues to benefit from Fidelity Investments' broader ETF expansions, such as active equity suite launches in November 2024, while delivering competitive long-term growth amid sector volatility driven by digital advertising resilience and telecom stability.