Key stats
About Fidelity Covington Trust Fidelity Enhanced Mid Cap ETF
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Inception date
Nov 20, 2023
Structure
Open-Ended Fund
Distributes
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Tax on distributions
Qualified dividends
FMDE seeks capital appreciation by targeting common stocks within the Russel Midcap Index. The benchmark is a market capitalization-weighted index, specifically intended to evaluate the mid-cap sector of the US equity market. Investments may also include foreign stocks. With the aim of potentially providing a total return that surpasses that of the Index, the fund utilizes a computer-aided, quantitative analysis that evaluates historical valuation, growth, profitability, and various other factors. In addition to capital growth, the fund engages in securities lending as an income-generating strategy. FMDE converted from a mutual fund called Fidelity Mid Cap Enhanced Index Fund to an actively managed ETF structure starting with $1.33 billion in net assets.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Finance
Technology Services
Stocks98.58%
Finance19.81%
Technology Services18.11%
Electronic Technology9.83%
Producer Manufacturing7.02%
Utilities5.74%
Consumer Services5.66%
Retail Trade5.05%
Health Technology4.55%
Process Industries3.80%
Industrial Services3.34%
Distribution Services2.96%
Consumer Non-Durables2.25%
Commercial Services2.09%
Transportation1.93%
Consumer Durables1.77%
Non-Energy Minerals1.73%
Energy Minerals1.41%
Health Services1.39%
Miscellaneous0.15%
Bonds, Cash & Other1.42%
Mutual fund1.23%
Cash0.11%
Government0.07%
Futures0.01%
Miscellaneous0.00%
Stock breakdown by region
North America100.00%
Latin America0.00%
Europe0.00%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history