Fidelity MSCI Health Care Index ETF
FHLC
New York Stock Exchange Arca- -
USD
- -
- -
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 - Global
- Address
- 245 Summer Street Boston MA United States of America 2210
- IPO Date
- Oct 24, 2013
- CIK
- 0000945908
- Website
- digital.fidelity.com
- Similar Companies
- Business
- Fidelity MSCI Health Care Index ETF (FHLC) is an exchange-traded fund that seeks to provide investment returns corresponding, before fees and expenses, to the performance of the MSCI USA IMI Health Care 25/50 Index, a market-cap-weighted benchmark tracking the broad U.S. health care equity sector across large-, mid-, and small-cap stocks. The fund offers diversified exposure to over 300 U.S. health care companies spanning subsectors including pharmaceuticals, biotechnology, medical devices, health care equipment, managed care, insurance, drug retailers, life sciences tools, and health care providers; top holdings as of recent data include Eli Lilly and Co. (12.95%), Johnson & Johnson (7.70%), AbbVie Inc. (6.03%), UnitedHealth Group Inc. (4.62%), and Merck & Co. Inc. (3.75%). Launched on October 21, 2013, and domiciled in the United States with approximately $2.6 billion in assets under management, FHLC is issued and managed by Fidelity Covington Trust, a Fidelity Investments affiliate, with a low expense ratio of 0.08% and quarterly dividend distributions. The ETF primarily serves institutional and retail investors seeking passive, low-cost access to the resilient U.S. health care sector, which benefits from demographic trends like aging populations, rising medical spending, and innovation in treatments and technologies. Geographically, its portfolio is overwhelmingly U.S.-focused (99.52% U.S. stocks), with minimal non-U.S. exposure (0.30%) and a small cash position (0.18%). FHLC employs a full replication strategy to mirror the index, distributing qualified dividends and capital gains while maintaining a passive management style under a team including Jennifer Hsui (since inception), Peter Sietsema, Matt Waldron, and Steven White. Recent developments include consecutive dividend increases in 2024—a 3% boost in September raising the annual payout from $0.92 to $0.95 per share, followed by a 4.2% rise to $0.99 in December—reflecting a 5.74% average growth rate over three years and underscoring steady shareholder returns amid sector resilience. In June 2025, FHLC declared a quarterly dividend of $0.257 per share, payable on June 24, maintaining its appeal as an income-oriented holding with a trailing twelve-month yield around 1.17% to 1.6%. While FHLC itself has seen no major acquisitions, partnerships, or structural changes in the last 1-2 years, Fidelity Investments has actively expanded its broader ETF lineup, launching new active equity and bond funds in 2024 and 2025, alongside portfolio manager updates for FHLC such as the addition of Matt Waldron and Steven White effective June 30, 2025.