Fidelity Disruptive Technology ETF
FDTX
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- Fidelity Disruptive Technology ETF (FDTX) is an actively managed exchange-traded fund that seeks long-term growth of capital by investing at least 80% of its assets in securities of disruptive technology companies worldwide. The fund targets innovative businesses across sectors such as cloud computing, big data analytics, cybersecurity, e-commerce software, application and systems software, artificial intelligence, internet and mobile platforms, and consumer technology experiences; top holdings typically include leading firms like NVIDIA Corp., Microsoft Corp., Netflix Inc., Salesforce Inc., and Taiwan Semiconductor Manufacturing Co. Ltd. It employs fundamental and quantitative analysis with a bottom-up stock-picking approach, maintaining a non-diversified portfolio with significant exposure to U.S. stocks (approximately 75%), alongside developed Asia, Eurozone, Canada, and Japan; the expense ratio stands at 0.50%, with assets under management around $194 million. Launched on April 16, 2020, and domiciled in the United States, FDTX is issued by Fidelity Covington Trust and managed primarily by Fidelity Management & Research Company LLC, with co-management from Fidelity entities in the U.K., Hong Kong, and Japan; portfolio managers include Michael Kim (since inception) and Priyanshu Bakshi (since January 1, 2025). Fidelity Investments, the parent organization founded in 1946 and headquartered at 245 Summer Street in Boston, Massachusetts, oversees the fund as part of its broader suite of thematic ETFs focused on disruption themes. The ETF benchmarks performance against the MSCI ACWI Index and MSCI All Country World Information Technology Equal Weighted Index, serving institutional and retail investors seeking exposure to high-growth technology disruptors. In recent developments, Priyanshu Bakshi joined as co-portfolio manager effective January 1, 2025, enhancing the fund's management team amid ongoing evolution in Fidelity's active ETF lineup. No major acquisitions, partnerships, funding rounds, or strategic reorganizations specific to FDTX have been reported in the last 1-2 years, though Fidelity Investments continues to expand its disruption-themed offerings, including related active ETFs like Disruptive Automation (FBOT) and Disruptive Communications (FDCF). The fund maintains steady operations with daily pricing on the Nasdaq, focusing on global technology leaders without noted product launches or name changes.