Fidelity Disruptive Finance ETF
FDFF
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- Fidelity Disruptive Finance ETF (FDFF) is an actively managed exchange-traded fund that seeks long-term capital growth by investing at least 80% of its assets in equity securities of disruptive finance companies, which leverage innovative technologies and business models to deliver more efficient, cost-effective, and customized financial services; these include digital payments, blockchain-enabled financial services, data processing, internet banks, embedded finance, AI-enabled underwriting, and disruptive lending and insurance models. The fund's portfolio comprises approximately 51 holdings, with top positions in companies such as Capital One Financial Corp. (5.96%), BlackRock Inc. (5.35%), Block Inc. (5.14%), Equifax Inc. (4.87%), and Apollo Global Management Inc. (4.58%), alongside international names like Adyen N.V., DBS Group Holdings Ltd., and Nu Holdings Ltd.; it maintains diversification across U.S. (about 70%) and non-U.S. stocks (about 30%), spanning growth and value stocks of companies in varied market capitalizations. Launched on April 16, 2020, and domiciled in the United States, FDFF is issued by Fidelity Covington Trust and managed primarily by Fidelity Management & Research Company LLC, with Michael Kim as lead portfolio manager since inception and Pierre Sorel joining in January 2025. Headquartered in Boston, Massachusetts, as part of Fidelity's broader suite of disruption-themed ETFs, the fund operates globally, targeting public equity markets worldwide and benchmarking performance against indices like the MSCI ACWI Index and MSCI All Country World Financials Equal Weighted Index. In recent developments, the fund maintained strong performance with a 26.64% return before taxes for the year ended December 31, 2024, and added co-manager Pierre Sorel effective January 1, 2025, to enhance its quantitative and fundamental analysis capabilities amid ongoing fintech innovations and potential interest rate tailwinds.