Fidelity Limited Term Bond ETF
FLTB
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
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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 - Bonds
- Address
- 245 Summer Street Boston MA United States of America 2210
- IPO Date
- Oct 9, 2014
- CIK
- 0001562565
- Website
- digital.fidelity.com
- Similar Companies
- Business
- Fidelity Limited Term Bond ETF (FLTB) is an actively managed exchange-traded fund that provides exposure to a shorter-duration portfolio of primarily investment-grade fixed-income securities, with a focus on U.S. corporate credit and a targeted average maturity between two and five years; the fund invests in U.S. Treasurys, government-related securities, investment-grade corporate bonds across financials and industrials, asset-backed securities including collateralized loan obligations and car loan debt, commercial mortgage-backed securities, and up to 20% in below-investment-grade high-yield debt. FLTB tracks the Bloomberg U.S. 1-5 Year Government/Credit Bond Index as its primary benchmark and the Fidelity Limited Term Composite Index (70% Bloomberg U.S. 1-5 Year Credit Bond Index, 20% Bloomberg U.S. 1-5 Year Government Bond Index, 10% ICE BofA 1-5 Year BB-B U.S. Cash Pay High Yield Constrained Index) as its secondary benchmark. Launched on October 6, 2014, and listed on NYSE Arca, the ETF is issued by Fidelity Merrimack Street Trust, a part of Fidelity Investments, which is headquartered at 245 Summer Street in Boston, Massachusetts. The fund employs a team-based investment process utilizing experienced portfolio managers, research analysts, and traders to add value through asset allocation, sector and security selection, and yield-curve positioning, supported by quantitative modeling, portfolio reviews, and proprietary risk management tools; as of mid-2025, approximately 70% of assets are allocated to corporate bonds, 15-17% to U.S. Treasurys, 8-10% to asset-backed securities, and 3% to commercial mortgage-backed securities, with an average effective duration of around 2.6 years and holdings exceeding 900 securities. FLTB targets income generation and capital preservation for investors seeking short-term bond exposure with lower interest-rate sensitivity than longer-duration strategies, serving institutional and retail investors primarily in the U.S. market through brokerage platforms. The gross expense ratio stands at 0.25%, with net assets under management around $234-324 million as of recent reports. In a significant strategic shift effective February 28, 2024, FLTB expanded its non-investment-grade securities allocation limit from 5% to 20% and modified its composite benchmark to incorporate a 10% high-yield component, reducing the investment-grade credit weighting to 70%; this change aims to enhance yield potential while maintaining a credit-focused approach. On October 1, 2024, John Mistovich joined as co-portfolio manager alongside Rob Galusza, bolstering the management team amid volatile market conditions driven by U.S. inflation, Federal Reserve policy adjustments, and trade uncertainties. Recent institutional activity includes new positions by Flow Traders U.S. LLC (29,612 shares valued at $1.5 million in Q2 2025) and stake increases by firms such as Jones Financial Companies and United Advisor Group, reflecting growing interest in the fund's performance, which outperformed its benchmarks with a 2.23% NAV return for the six months ending February 28, 2025.