Key stats
About FIDELITY U.S. MOMENTUM ETF USD
Expense ratio
0.39%
Home page
Inception date
Jun 5, 2020
The fund tracks an index of large- and mid-cap companies from the United States with strong momentum signals. The fund uses composite scores to select and weight securities. The indexs construction is an iterative process that combines the composite factor score, size adjustment, selection, and weighting. The composite scores are based on four momentum factors over a period of around one year with equivalent weighting. The composite score is then blended with a size factor to remove size bias. Securities within each sector are selected based on the size-adjusted composite score. Securities in groups with higher momentum characteristics are overweighted. The index is rebalanced quarterly. At each rebalance, the lowest ranked stocks by composite score in the portfolio are removed until a turnover threshold of 15% is reached.
Classification
What's in the fund
Exposure type
Technology Services
Electronic Technology
Finance
Utilities
Stock breakdown by region