FTBD Stock Fund Price and Chart — AMEX:FTBD

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About Fidelity Merrimack Street Trust Fidelity Tactical Bond ETF

FTBD gives exposure to the broad debt market by actively investing in a wide range of US and foreign fixed-income securities including corporate bonds, government debt, securitized securities, floating rate loans, TIPS, as well as convertibles, and preferred stocks. The adviser uses a quantitative and qualitative approach to security selection which considers several factors such as credit quality, security-specific features, and current and potential valuation. In seeking a high level of current income, the fund tactically allocates to investment-grade and high-yield bonds by actively shifting from one rating to another depending on the market condition and as perceived opportunities arise. It also uses different managing techniques to minimize various risk exposure like sector rotation, asset allocation, and fundamental analysis. The fund may hold both USD- and non-USD-denominated securities while utilizing forward foreign currency exchange contracts. It may also invest in derivatives which at times may make up a significant portion of its portfolio to have a leveraging effect on the fund.