Fidelity Covington Trust - Fidelity Fundamental Developed International ETF
FFDI
Chicago Board Options Exchange- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Company Description
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 245 Summer Street Boston MA United States of America 2210
- IPO Date
- Nov 21, 2024
- CIK
- 0000945908
- Similar Companies
- Business
- Fidelity Covington Trust – Fidelity Fundamental Developed International ETF is an actively managed exchange-traded fund that seeks long-term capital growth by investing primarily in equity securities of companies located in developed markets outside the United States. The fund, traded under the ticker FFDI, provides investors with diversified developed international equity exposure through a bottom-up, fundamentals-driven investment process covering companies across market capitalizations, sectors, growth and value characteristics, and countries in Europe, Japan, Asia-Pacific and other developed ex-U.S. markets. Its principal investment product is a portfolio of publicly traded common stocks and other equity securities selected using fundamental research and quantitative analysis, including assessments of business quality, valuation, financial strength, competitive position and earnings prospects. FFDI is designed for retail and institutional investors seeking actively managed international developed-market equity exposure through an ETF structure. FFDI is a series of Fidelity Covington Trust, a U.S.-domiciled investment company, and is managed by Fidelity Management & Research Company LLC, with co-management support from Fidelity Management & Research (U.K.) Limited, Fidelity Management & Research (Hong Kong) Limited and Fidelity Management & Research (Japan) Limited. The fund is distributed by Fidelity Distributors Company LLC; Brown Brothers Harriman & Co. acts as custodian, administrator and transfer agent. Fidelity Covington Trust and its Fidelity-branded investment products are affiliated with Fidelity Investments and FMR LLC, which was founded in 1946 and is headquartered in Boston, Massachusetts. FFDI commenced operations on November 19, 2024, representing Fidelity’s expansion of its actively managed international-equity ETF lineup. The ETF does not seek to track an index and uses physical holdings to implement its active strategy. Its recent portfolio has included developed-market issuers such as ASML Holding N.V., Schneider Electric SE, Banco Santander SA, Rolls-Royce Holdings plc, Advantest Corp., Safran SA, CaixaBank SA, Air Liquide SA, Hitachi Ltd. and Mitsubishi UFJ Financial Group Inc. The fund charges a 0.55% net expense ratio and generally makes quarterly distributions. Since its late-2024 launch, the principal material development has been the establishment and ongoing expansion of the actively managed Fidelity Fundamental Developed International ETF offering, including continued portfolio implementation, share creation activity and quarterly cash-distribution declarations, rather than a reported acquisition, corporate reorganization, strategic alliance or change of investment mandate.