Fidelity Fundamental Large Cap Growth ETF
FFLG
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- Fidelity Fundamental Large Cap Growth ETF (FFLG) is an actively managed exchange-traded fund that seeks long-term growth of capital by investing at least 80% of its assets in equity securities of large-cap companies, primarily those included in the Russell 1000 Growth Index, with a focus on issuers exhibiting above-average growth potential based on fundamental analysis of factors such as financial condition, earnings outlook, strategy, management, industry position, and economic conditions; the fund employs a proprietary quantitative portfolio construction process to emphasize high-conviction holdings derived from Fidelity's fundamental research and portfolio manager views, ensuring style-box consistent exposure in the large-cap growth segment while incorporating both U.S. and non-U.S. companies, including small- and mid-cap names opportunistically. The ETF, issued by Fidelity Covington Trust and managed by Fidelity Management & Research Company LLC (FMR), a subsidiary of FMR LLC, offers investors diversified exposure across sectors led by information technology (approximately 48%), communication services (16%), and consumer discretionary (13%), with top holdings including NVIDIA Corp., Microsoft Corp., Apple Inc., Amazon.com Inc., and Meta Platforms Inc. Class A; it operates with a gross expense ratio of 0.39%, daily trading on the Cboe BZX Exchange, and assets under management of approximately $507 million as of September 30, 2025. Launched on February 2, 2021, as part of Fidelity's suite of Fundamental Active ETFs headquartered in Boston, Massachusetts, FFLG underwent a significant strategic reorganization effective February 26, 2024, transitioning from its prior semitransparent structure as Fidelity Growth Opportunities ETF (FGRO) to a fully transparent format, adopting the new ticker FFLG and name, implementing a revised investment process leveraging Fidelity's quantitative capabilities and fundamental manager convictions, and reducing its expense ratio by 59 basis points to 0.38%; this change positioned it alongside complementary funds including Fidelity Fundamental Large Cap Core ETF (FFLC), Fidelity Fundamental Large Cap Value ETF (FFLV), and Fidelity Fundamental Small-Mid Cap ETF (FFSM), enhancing accessibility and competitiveness within the large growth category.