Fidelity Corporate Bond ETF
FCOR
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- Fidelity Corporate Bond ETF (FCOR) is an actively managed exchange-traded fund that seeks a high level of current income through a credit-focused strategy benchmarked to the Bloomberg U.S. Credit Bond Index. The fund normally invests at least 80% of its assets in investment-grade corporate bonds and other corporate debt securities, including repurchase agreements for such securities; it emphasizes security selection, industry allocation, and opportunistic trading within sectors such as industrials (approximately 45%), banking (24%), financial institutions ex-banking (18%), and utilities (13%); it also maintains allocations to U.S. Treasurys (around 8%) for liquidity and risk management, select high-yield corporates, asset-backed securities, and commercial mortgage-backed securities, with a portfolio duration of about 6.8 years, a weighted average maturity of 10.9 years, and heavy weighting toward BBB-rated bonds (over 56%). Launched on October 6, 2014, and listed on NYSE Arca, FCOR is issued and managed by affiliates of Fidelity Investments, headquartered in Boston, Massachusetts, with assets under management of approximately $284 million as of August 31, 2025; it targets income-seeking investors in the U.S. taxable fixed-income market, primarily institutional and retail clients through brokerage platforms. In recent developments, Steve Rolecek joined as co-portfolio manager on October 1, 2024, succeeding Matt Bartlett, amid a team-based approach led by Jay Small and Ben Tarlow; the fund adjusted sector allocations in fiscal year 2025 by reducing exposure to non-bank financials and increasing weights in industrials and utilities to capitalize on manufacturing emphasis and relative value opportunities; as of September 30, 2025, it reported a 30-day SEC yield of 4.55%, net asset value of $47.93 per share, and a fiscal year net asset value return of 4.30% through August 31, 2025, outperforming its benchmark's 3.92%.