Snapshot*
Top 10 Holdings
What is FMET?
The fund seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Metaverse Index. Normally investing at least 80% of assets in securities included in the Fidelity Metaverse Index and in depositary receipts representing securities included in the index. "Metaverse" is a term used to describe a future state of the internet characterized by a network of both augmented reality and virtual worlds that can be experienced persistently and in a shared environment by large numbers of users. The Fidelity Metaverse Index is designed to reflect the performance of a global universe of companies that develop, manufacture, distribute, or sell products or services related to establishing and enabling the Metaverse.
FMETPerformance Measures**
for the time period Apr 21, 2022 to Dec 16, 2025
1M Trailing Return: 1.3%
The percent change in the value over the most recent 1-month period.
3M Trailing Return: -3.7%
The percent change in the value over the most recent 3-month period.
Max Drawdown: -29.2%
The greatest percent loss from peak to trough in value over the time period.
Standard Deviation: 24.5%
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: 0.58
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: 0.41
The annualized return divided by the max drawdown for the selected time period.
ETFs related toFMET
ETFs correlated to FMET include METV, IRBO, AIQ
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 toFMET
QL-01 | Vibrant ETF Portfolio
Category
Thematic ETFs, Growth/tech heavy, Equal-weight, Annual rebalance, AI, Automation, Crypto, Metaverse, Nuclear energy, Quantum, High risk
OOS Cumulative Return
13.34%
QL-02 | Enhanced ETF Momentum Strategy
Category
ETF momentum rotation, risk-on/off, tactical asset allocation, equities, gold, Treasuries
OOS Cumulative Return
11.85%
Create your own algorithmic trading strategy with FMET 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.