Fidelity Momentum Factor ETF
FDMO
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ROIC.AI
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- Fidelity Momentum Factor ETF (FDMO) is an exchange-traded fund that seeks investment returns corresponding to the performance of the Fidelity U.S. Momentum Factor Index. The fund normally invests at least 80% of its assets in equity securities included in the index, which emphasizes large- and mid-cap U.S. stocks exhibiting positive momentum signals across diversified sectors including technology, consumer discretionary, and financials; it holds approximately 130 securities with a focus on outperforming stocks that have demonstrated medium-term strength, mirroring aspects of the Russell 1000 Index while maintaining controlled volatility and balanced sector allocations favoring mega-cap leaders. FDMO provides exposure to momentum-driven strategies for institutional and retail investors targeting U.S. equity markets, with quarterly dividend distributions yielding around 0.82% and an expense ratio of 0.16%. Launched on September 12, 2016, and domiciled in the United States, FDMO operates under Fidelity Covington Trust with management by Fidelity Management & Research Company LLC and co-management by Geode Capital Management, LLC; its headquarters align with Fidelity Investments in Boston, Massachusetts. In recent developments, institutional interest has surged with 58% more first-time investments than exits in Q3 2025, including new or increased positions by Envestnet Asset Management ($5.72 million addition), Cetera Investment Advisers, Morgan Stanley, LPL Financial, and others, driving total hedge fund capital to $387 million; earlier in 2025, firms like Wealth Enhancement Advisory Services, Bank of America, Two Sigma Investments, and Inscription Capital expanded stakes amid strong performance of 24.64% total return over the past year.