Fidelity Dynamic Buffered Equity ETF

Fidelity Dynamic Buffered Equity ETF is an actively managed equity hedged exchange-traded fund that seeks capital appreciation through a large-cap U.S. equity portfolio paired with an options-based collar strategy. The fund normally invests at least 80% of its assets in equity securities of companies with market capitalizations similar to those in the S&P 500 Index or Russell 1000 Index, while using call writing and put buying to help manage downside exposure. Its portfolio is built through a quantitative, factor-based process that focuses on characteristics such as valuation, growth, and profitability. Fidelity Dynamic Buffered Equity ETF is designed for investors seeking diversified equity market participation with a defensive overlay, and it plays a role in the market as a liquid alternatives solution that blends core stock exposure with risk-mitigation techniques.