Fidelity Fundamental Large Cap Core ETF
FFLC
Chicago Board Options Exchange- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 245 Summer Street Boston MA United States of America 2210
- IPO Date
- Jun 5, 2020
- Website
- digital.fidelity.com
- Similar Companies
- Business
- Fidelity Covington Trust constitutes a statutory trust organized under the laws of Massachusetts that serves as the issuer for a series of exchange-traded funds (ETFs), including the Fidelity Fundamental Large Cap Core ETF (FFLC; ticker: FFLC). FFLC is an actively managed, open-end investment company that primarily invests in equity securities of large-cap U.S. companies with market capitalizations similar to those in the S&P 500 Index or Russell 1000 Index, seeking long-term capital growth through a proprietary quantitative process emphasizing high-conviction holdings from multiple portfolio managers; the fund typically holds 60 to 150 stocks across sectors, balancing weights to align with Morningstar Style Box guidelines while evaluating factors such as financial condition, earnings outlook, management quality, industry position, and market conditions; it provides fully transparent daily portfolio disclosure and trades on the Cboe BZX exchange. The Trust offers additional ETFs under the Fidelity brand, including those in the Fundamental suite such as Fidelity Fundamental Large Cap Growth ETF (FFLG), Fidelity Fundamental Large Cap Value ETF (FFLV), and Fidelity Fundamental Small-Mid Cap ETF (FFSM), as well as others focused on multifactor strategies, disruptive technology, and enhanced international exposure. Established in 1995 with principal executive offices in Boston, Massachusetts, the Trust operates under the management of Fidelity Management & Research Company LLC (FMR LLC) and its affiliates, including co-managers in the U.K., Hong Kong, and Japan for certain funds; FFLC was launched on June 2, 2020, with assets under management reaching approximately $885.6 million as of September 30, 2025. Geographically, the Trust's investments through FFLC and related funds target primarily U.S. domestic equity markets, serving institutional and retail investors seeking core large-cap blend exposure comparable to the Large Blend Morningstar category. In recent developments, Fidelity Investments announced updates to its Fundamental ETF suite in February 2024, including transformations of existing equity ETFs into FFLC, FFLG, FFLV, and FFSM, alongside the launch of a new active equity ETF, enhancing the suite's focus on disciplined active management to outperform benchmarks; FFLC specifically benefited from a fee reduction, dropping its expense ratio from 59 basis points to 38 basis points upon transformation. Further expansions in Fidelity's broader ETF lineup continued into Q2 2025 with launches such as the Fidelity Municipal Bond Opportunities ETF, Fidelity Systematic Municipal Bond Index ETF, and Fidelity Managed Futures ETF, growing total exchange-traded assets under management to $125.9 billion across 79 funds. No major acquisitions, funding rounds, or name changes for Fidelity Covington Trust were reported in the last 1-2 years, with ongoing emphasis on portfolio manager transitions for FFLC in February 2024 to Timothy Gannon, Camille Carlstrom, and Michael Kim.