Fidelity Covington Trust Fidelity Metaverse ETF

FMET is a Global Equities ETF. 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.

FMET tracks the Fidelity Metaverse Index.

No, FMET is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, FMET is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on FMET is -0.0288%. This is the percent change in the value of FMET over the most recent 1-month period. The 3-month return on FMET is -0.0525%. This is the percent change in the value of FMET over the most recent 3-month period.

The standard deviation of FMET for the past year is 0.257%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to FMET include PBW, IGF, and ARKK.

ETFs correlated to FMET include METV, IRBO, and AIQ.

ETFs that are inversely correlated to FMET include HIBS, BERZ, and QID.