Fidelity Metaverse ETF
FMET
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- Fidelity Metaverse ETF (FMET) is a passively managed exchange-traded fund that seeks to provide investment returns corresponding, before fees and expenses, to the performance of the Fidelity Metaverse Index. The fund normally invests at least 80% of its assets in securities included in the index and depositary receipts representing such securities, targeting a global universe of companies that develop, manufacture, distribute, or sell products and services related to establishing and enabling the metaverse, including digital content creation, infrastructure, wearable technology, augmented reality, and virtual worlds; top holdings as of September 30, 2025, include NVIDIA Corp (4.62%), Apple Inc (4.52%), Alphabet Inc Class A (4.45%), QUALCOMM Inc (4.43%), Adobe Inc (4.36%), Microsoft Corp (4.34%), Advanced Micro Devices Inc (4.25%), Meta Platforms Inc Class A (4.17%), Roblox Corp (3.84%), and Equinix Inc (3.74%), representing 42.71% of total net assets, with sector allocations led by information technology (51.74%) and communication services (39.53%). Launched on April 19, 2022, and listed on Nasdaq, FMET is domiciled in the United States with approximately $49.1 million in portfolio assets, 53 total holdings, a net expense ratio of 0.40%, and a turnover rate of 30% as of June 2025; it maintains geographic diversification with 76.09% in U.S. equities, 23.98% in international equities (including emerging markets exposure in China and South Korea), and operates within the thematic equity and communications sectors, serving investors seeking exposure to metaverse-enabling technologies. In a significant recent development, Fidelity Investments announced on October 16, 2025, the liquidation of FMET alongside four other ETFs, with the final trading day scheduled for November 13, 2025, on Cboe BZX Exchange, after which no new creation orders will be accepted and shares will cease trading, followed by portfolio liquidation into cash or equivalents around November 20, 2025. The fund, managed by Fidelity Investments—headquartered in Boston, Massachusetts, and founded in 1930 as Fidelity Management & Research (FMR)—has delivered a life-of-fund NAV return of 12.99% as of September 30, 2025, with a 3-year annualized return of 28.11%.