Fidelity Disruptive Medicine Fund
FMEDX
NASDAQ- -
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
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Boston, MA 02109 Boston MA United States of America 02109
- IPO Date
- Apr 16, 2020
- CIK
- 0000225322
- Similar Companies
- Business
- Fidelity Disruptive Medicine Fund (FMEDX) is an actively managed open-end mutual fund that seeks long-term growth of capital by investing at least 80% of its assets in equity securities of disruptive medicine companies. These companies engage in innovative developments across sectors including gene therapy, robotic surgery, genomics, rare diseases, medical devices, health care technology, pharmaceuticals, biotechnology, life sciences tools and services, and health care equipment and supplies; the fund employs fundamental analysis of issuers' financial condition, industry position, and market conditions, alongside quantitative portfolio construction, to select both growth and value stocks of domestic and foreign issuers, with a concentration in health care industries and approximately 65 holdings as of late 2025. It operates primarily in U.S. and international markets, including developed and emerging economies, targeting institutional and retail investors seeking exposure to transformative medical advancements. Launched on April 16, 2020, the fund is part of Fidelity Summer Street Trust and managed by Fidelity Management & Research Company LLC (FMR), with headquarters at 245 Summer Street, Boston, Massachusetts. In 2022, Fidelity announced plans to convert FMEDX, along with five other thematic mutual funds in its Disruptive series, into actively managed exchange-traded funds (ETFs) to enhance tax efficiency, trading flexibility, portfolio transparency, and lower expenses, with conversions originally targeted for June 2023; as of December 2025, FMEDX continues to function as a mutual fund share class, while a parallel ETF version (FMED) under Fidelity Covington Trust maintains the same disruptive medicine strategy and top holdings such as Boston Scientific Corporation, Alnylam Pharmaceuticals, Inc., argenx SE, and Intuitive Surgical, Inc. No major acquisitions, partnerships, funding rounds, or new product launches specific to FMEDX have been reported in 2024 or 2025, though the fund has sustained portfolio adjustments amid ongoing innovation in its targeted sectors, including periodic prospectus updates.