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ETFs

Fidelity Covington Trust Fidelity Disruptive Automation ETF

FBOT
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Apr 16 2020
Expense Ratio
0.50%
Type
Global Equities
Fund Owner
Fidelity
Volume (1m avg. daily)
$312,611
AUM
$102,030,844
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

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Invest with FBOT

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.

ETFs related toFBOT

ETFs correlated to FBOT include BOTZ, ROBO, IRBO

FBOT
Fidelity Covington Trust - Fidelity Disruptive Automation ETF
BOTZ
Global X Funds - Global X Funds Global X Robotics & Artificial Intelligence ETF
ROBO
Exchange Traded Concepts Trust - ROBO Global Robotics and Automation Index ETF
IRBO
BlackRock Institutional Trust Company N.A. - iShares Robotics and Artificial Intelligence Multisector ETF
XT
BlackRock Institutional Trust Company N.A. - iShares Exponential Technologies ETF
AIQ
Global X Funds - Global X Artificial Intelligence & Technology ETF
CRBN
BlackRock Institutional Trust Company N.A. - iShares MSCI ACWI Low Carbon Target ETF
AOA
BlackRock Institutional Trust Company N.A. - iShares Core Aggressive Allocation ETF
SPGM
SSgA Active Trust - SPDR Portfolio MSCI Global Stock Market ETF
ROBT
First Trust Exchange-Traded Fund VI - First Trust Nasdaq Artificial Intelligence and Robotics ETF
VT
Vanguard Group, Inc. - Vanguard Total World Stock ETF

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.

Automated Strategies
Related toFBOT

#RB

Rotating Bonds

Category

Getting Defensive, Diversification

Risk Rating

Moderate

Create your own algorithmic trading strategy with FBOT using Composer

FAQ

FBOT is a Global Equities ETF. 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.

Yes, FBOT is actively 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.

No, FBOT is not passively managed. It is actively 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 FBOT is -0.0191%. This is the percent change in the value of FBOT over the most recent 1-month period. The 3-month return on FBOT is -0.1138%. This is the percent change in the value of FBOT over the most recent 3-month period.

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

ETFs correlated to FBOT include BOTZ, ROBO, and IRBO.

ETFs that are inversely correlated to FBOT include HIBS, EFZ, and QID.

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.