Fidelity U.S. High Quality ETF
FCUQ.TO
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- Fidelity U.S. High Quality ETF (FCUQ.TO) is an exchange-traded fund that seeks to replicate, before fees and expenses, the performance of the Fidelity Canada U.S. High Quality Index by investing primarily in equity securities of large- and mid-capitalization U.S. companies exhibiting higher quality profiles, including strong balance sheets, stable cash flows, high return on equity, and consistent earnings growth, compared to the broader U.S. equity market. The ETF provides single-factor exposure to such high-quality firms across diversified sectors such as information technology (approximately 38.6%), consumer discretionary (14.8%), communication services (14.2%), industrials (13.6%), and consumer staples (9.5%), with top holdings including Nvidia, Microsoft, Apple, Alphabet Class A, Meta Platforms, Broadcom, Procter & Gamble, Home Depot, Philip Morris International, and Monster Beverage, representing about 39.8% of the portfolio among its 95 total holdings; it features a management expense ratio of 0.39% (as of March 31, 2025), quarterly distributions (yielding approximately 0.75%), semi-annual rebalancing, and a dividend reinvestment program. Launched on January 18, 2019 (first trade January 24, 2019) and listed on the Toronto Stock Exchange, the ETF is managed by Geode Capital Management, with net assets exceeding CAD 1.5 billion and units outstanding around 22 million as of late 2025. Fidelity U.S. High Quality ETF operates under Fidelity Investments Canada ULC, headquartered at 483 Bay Street, Suite 300, Toronto, Ontario, Canada, targeting Canadian investors seeking U.S. equity exposure with enhanced quality characteristics for diversified portfolios. In December 2023, the fund underwent a name change from Fidelity U.S. High Quality Index ETF to its current designation to streamline Fidelity's ETF naming conventions; recent activity includes regular quarterly cash distributions (e.g., CAD 0.13759 per unit in December 2024 and CAD 0.12854 in September 2025), estimated 2025 annual reinvested capital gains distributions of CAD 1.32361 per unit (1.94% of NAV), and sustained asset growth amid strong performance, with year-to-date 2025 NAV returns of approximately 8.09% and inception-to-date annualized returns of 17.33% as of September 30, 2025.