Fidelity Low Duration Bond ETF
FLDB
NASDAQ Global Market- -
USD
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- -
Capital Structure
FRC
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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.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 245 Summer Street Boston MA United States of America 2210
- IPO Date
- Feb 22, 2024
- Website
- digital.fidelity.com
- Similar Companies
- Business
- Fidelity Low Duration Bond ETF (FLDB) is an actively managed exchange-traded fund that seeks a high level of current income consistent with the preservation of capital by investing at least 80% of its assets in investment-grade debt securities and repurchase agreements for those securities. The fund, issued by Fidelity Merrimack Street Trust and managed by Fidelity Investments, normally maintains a dollar-weighted average maturity of two years or less and a duration of one year or less, with overall interest-rate risk aligned to the Bloomberg U.S. Treasury Bill: 6-9 Months Index; its portfolio is diversified across U.S. Treasurys (approximately 28%), high-quality corporate bonds (approximately 47%, with emphasis on financial institutions including issuers such as JPMorgan Chase & Co., Bank of America Corporation, and American Express Co.), asset-backed securities (approximately 22%, primarily AAA-rated car loan debt, collateralized loan obligations, and credit card receivables), commercial mortgage-backed securities (approximately 3%), and a small cash allocation, comprising 384 total holdings as of September 30, 2025. FLDB trades on the Nasdaq exchange under the ticker FLDB (CUSIP: 316188861), with a gross expense ratio of 0.20%, a 30-day SEC yield of 4.22%, weighted average maturity of 1.00 year, and effective duration of 0.56 year; credit quality is predominantly investment-grade, including U.S. Government (28%), AAA (24%), AA (12%), A (25%), and BBB (9%). Launched on February 22, 2024, and headquartered at Fidelity Distributors Company LLC in Smithfield, Rhode Island, the fund serves investors seeking ultrashort bond exposure in the U.S. fixed-income market, primarily targeting institutional and retail investors through brokerage platforms. In recent developments, John Mistovich joined as co-portfolio manager on October 1, 2024, alongside existing managers David DeBiase, Robert Galusza, and Julian Potenza, enhancing the team's expertise in short-duration fixed income; for the fiscal year ending August 31, 2025, the fund's NAV returned 5.01% and market price 5.13%, outpacing the benchmark's 4.29%, driven by yield-advantaged corporate debt and AAA asset-backed securities amid tight credit spreads and selective risk positioning.