Fidelity Covington Trust Fidelity Disruptive Automation ETF
Snapshot*
Top 10 Holdings
What is FBOT?
The fund seeks long-term growth of capital. Normally investing at least 80% of assets in securities of disruptive automation companies. Companies within the disruptive automation theme include but are not limited to those companies that, in the Adviser's opinion, are engaged in designing and manufacturing automation, enabling technology, tools, or processes including robotics, artificial intelligence, machine vision, process sensors, pneumatic systems, autonomous driving, and 3D printing. Fidelity's disruptive strategies seek to identify innovative developments that could signal new directions for delivering products and services to customers. Generally, these companies have or are developing new or unconventional ways of doing business that could disrupt and displace incumbents over time. This may include creating, providing, or contributing to new or expanded business models, value networks, pricing, and delivery of products and services. In pursuing this investment theme, the fund may invest in companies in any economic sector. Normally investing primarily in equity securities. Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments with quantitative portfolio construction. Investing in either "growth" stocks or "value" stocks or both. Investing in securities of domestic and foreign issuers.
FBOTPerformance Measures**
for the time period Jun 12, 2023 to Jul 17, 2026
1M Trailing Return: -4.8%
The percent change in the value over the most recent 1-month period.
3M Trailing Return: -2.1%
The percent change in the value over the most recent 3-month period.
Max Drawdown: -23.6%
The greatest percent loss from peak to trough in value over the time period.
Standard Deviation: 21.3%
The typical amount that daily returns vary from the mean of the returns over the time period, standardized to a period of a year.
Sharpe Ratio: 0.68
The annualized arithmetic mean of the daily returns divided by the annualized standard deviation of the daily returns for the selected time period.
Calmar Ratio: 0.55
The annualized return divided by the max drawdown for the selected time period.
ETFs related toFBOT
ETFs correlated to FBOT include BOTZ, ROBO, IRBO
What is ETF correlation?
Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.
Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.
Using ETF correlations in portfolio and strategy construction
ETF correlations can help you create investing strategies and portfolios. Use them to:
- •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
- •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
- •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.
Trading Strategies
Related toFBOT
QL-01 | Vibrant ETF Portfolio
Category
Thematic ETFs, Growth tech, Meme stocks, Crypto industry, Automation/AI, Metaverse, Quantum, Nuclear energy, Core bonds, Equal-weight, Yearly rebalance
OOS Cumulative Return
26.99%
QL-02 | Enhanced ETF Momentum Strategy
Category
ETF momentum, regime switching, tactical allocation, equities, defensive rotation, trend following
OOS Cumulative Return
20.84%
Create your own algorithmic trading strategy with FBOT using Composer
FAQ
Disclaimers
We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.
We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.