Fidelity Covington Trust - Fidelity Fundamental Large Cap Core ETF
FMIL
Chicago Board Options Exchange- -
USD
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- -
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
- Address
- United States of America
- IPO Date
- Jun 5, 2020
- CIK
- 0000945908
- Similar Companies
- Business
- Fidelity Covington Trust serves as the issuer of exchange-traded funds (ETFs), including the Fidelity Fundamental Large Cap Core ETF (FMIL), which seeks long-term growth of capital by investing at least 80% of its assets in equity securities of large market capitalization companies, employing a fundamental investment approach focused on valuation, growth, profitability, and other quantitative factors; the fund operates as a non-transparent, actively managed ETF under the Fidelity New Millennium ETF strategy, providing exposure to fundamentally selected U.S. large-cap equities with a net expense ratio of approximately 0.38% to 0.59%. The Trust offers a broad lineup of similar actively managed and factor-based ETFs, such as those targeting enhanced large cap growth, value factors, high dividends, small-mid multifactor strategies, and sector-specific themes including disruptive communications and finance industries; additional products encompass fixed income, equity factor, passive thematic, and emerging markets ETFs, with shares issued and redeemed in large blocks at net asset value, dividends declared annually from net investment income, and capital gains distributions paid annually. Headquartered at 245 Summer Street in Boston, Massachusetts, the Trust operates primarily in the United States, targeting institutional and retail investors seeking diversified equity exposure through its suite of over 70 ETFs and ETPs managed under Fidelity Investments' oversight. In recent developments, Fidelity Covington Trust has expanded its actively managed ETF offerings with launches including five equity ETFs in November 2024 (Fidelity Enhanced U.S. All-Cap Equity ETF (FEAC), Enhanced Emerging Markets ETF (FEMR), Fundamental Developed International ETF (FFDI), Fundamental Global ex-U.S. ETF (FFGX), and Fundamental Emerging Markets ETF (FFEM)), three liquid alternatives ETFs in April 2024 (Fidelity Dynamic Buffered Equity ETF (FBUF), Hedged Equity ETF (FHEQ), and Yield Enhanced Equity ETF (FYEE)), the Fidelity Managed Futures ETF (FFUT) in June 2025, and ongoing enhancements to its Enhanced and Fundamental ETF suites that began in 2023 and February 2024, respectively, alongside new ETF model portfolios for wealth management firms introduced in February 2025 and regulatory filings for additional ETF structures approved in March 2025. The FMIL ETF, originally launched on June 2, 2020, continues to evolve within this growing platform, which now manages approximately $93 billion to $111 billion in assets across its exchange-traded products as of mid-2025.