Fidelity Covington Trust - Fidelity Enhanced U.S. All-Cap Equity ETF
FEAC
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- Fidelity Covington Trust – Fidelity Enhanced U.S. All-Cap Equity ETF is an actively managed exchange-traded fund that seeks capital appreciation through investments in U.S. equity securities across large-, mid- and small-capitalization companies. The fund, which trades on NYSE Arca under the ticker FEAC, primarily invests in common stocks and pursues a research-driven, systematically implemented investment process designed to identify long-term return drivers, including valuation, growth and quality, while applying proprietary portfolio-construction and risk-management techniques. It offers investors exchange-traded exposure to a diversified portfolio of U.S. equity securities; secondary-market trading of ETF shares; continuous creation and redemption of Creation Units by authorized participants in exchange for portfolio securities and/or cash; and potential investment in cash equivalents, money market instruments, repurchase agreements, securities of affiliated Fidelity central funds, depositary receipts, convertible securities, derivatives and other permitted instruments in support of its investment strategy. The fund generally invests at least 80% of assets in U.S. equity securities and may hold companies with foreign operations or other qualifying geographic ties, although its strategy is principally focused on the U.S. market. FEAC was launched in November 2024 and is a series of Fidelity Covington Trust, a Massachusetts trust headquartered at 245 Summer Street, Boston, Massachusetts. Fidelity Management & Research Company LLC, or an affiliate, serves as investment adviser within the Fidelity organization. Recent strategic developments include the establishment and continued distribution of FEAC as part of Fidelity’s actively managed Enhanced ETF lineup, alongside Enhanced Emerging Markets, International, Large Cap Core, Large Cap Growth, Large Cap Value, Mid Cap and Small Cap ETFs; Fidelity’s 2026 rebranding of the Enhanced Mid Cap ETF and Enhanced Small Cap ETF as the Enhanced Mid Cap Core ETF and Enhanced Small Cap Core ETF did not change FEAC’s name, ticker or all-cap U.S. equity mandate.