FIDELITY WOMENS LEADERSHIP ETF
FDWM
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ROIC.AI
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- Fidelity Women's Leadership ETF (FDWM) is an actively managed exchange-traded fund listed on NYSE Arca that seeks long-term capital growth by investing at least 80% of its assets in equity securities of U.S. companies demonstrating a commitment to advancing women's leadership and gender diversity; such companies include those with women in senior management roles, at least one-third of board seats held by women, or policies designed to attract, retain, and promote women, as assessed by Fidelity Management & Research Company LLC. The fund employs a bottom-up investment approach targeting quality companies with strong competitive moats for durable earnings growth and open-ended opportunities, leveraging Fidelity's fundamental, quantitative, and sustainable investing research across sectors like information technology, industrials, financials, consumer discretionary, and health care, with top holdings including Microsoft Corp., NVIDIA Corp., Apple Inc., Amazon.com Inc., and Alphabet Inc. Class C. Launched on June 15, 2021, and domiciled in the United States with administrative operations in Smithfield, Rhode Island, the ETF primarily focuses on domestic equities (approximately 97-98% allocation) serving institutional and retail investors interested in large-blend strategies blending gender diversity criteria with broad market exposure. Recent management changes include Preeti Sayana assuming co-lead portfolio manager responsibilities on December 16, 2024, alongside co-managers Kenyon Hunt and Nicole Connolly, who retired from the fund effective December 31, 2024; these shifts have emphasized stronger focus on women's leadership metrics over broader ESG factors, prompting portfolio adjustments such as increased stakes in industrials like GE Vernova amid reshoring themes, reduced materials exposure, and upgrades to higher-quality names during 2025 market volatility. As of June 30, 2025, the fund maintains assets under management of approximately $4.2 million, 84 total holdings, a net expense ratio of 0.59%, and a Morningstar three-star rating in the large blend category.