Fidelity U.S. High Quality Currency Neutral ETF
FCQH.TO
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- Fidelity U.S. High Quality Currency Neutral Index ETF (FCQH.TO) is an exchange-traded fund that seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Fidelity Canada U.S. High Quality Currency Neutral Index. The fund primarily invests in equity securities of large- and mid-capitalization U.S. companies exhibiting higher quality profiles relative to the broader U.S. equity market, including stocks characterized by stronger operational earnings, stable balance sheets, and robust profitability metrics; it employs derivatives such as forward contracts to minimize currency fluctuations between the U.S. dollar and Canadian dollar, providing a currency-neutral hedged exposure for Canadian investors. Launched and managed by Fidelity Investments Canada ULC on January 18, 2019, with co-management by Geode Capital Management, LLC and State Street Global Advisors Limited, the ETF holds diversified positions across sectors such as information technology, communication services, consumer discretionary, industrials, and consumer staples, with top holdings including the Fidelity U.S. High Quality ETF (FCUQ) and approximately 95 underlying securities as of mid-2025. Headquartered in Toronto, Ontario, Canada, where Fidelity Investments Canada ULC maintains its principal operations, the fund targets Canadian investors seeking U.S. equity exposure with quality tilts and currency hedging. It operates within the asset management industry, focusing on passively managed index-tracking strategies across growth and value stocks in public U.S. equity markets of varying market capitalizations. The ETF maintains a quarterly dividend payout policy, with recent distributions including CAD 0.111 on June 26, 2025, and a trailing twelve-month yield of approximately 0.67%; its expense ratio stands at 0.42%, supporting medium volatility with a beta of 1.02 and holdings concentrated in high-quality profiles managed by Geode, which oversees over $1.7 trillion in assets as of June 30, 2025. No major acquisitions, funding rounds, partnerships, new product launches, or strategic reorganizations specific to FCQH.TO have been reported in the last 1-2 years, reflecting stable operations amid ongoing portfolio rebalancing to track its benchmark index.