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ETFs

Fidelity Covington Trust Fidelity Disruptive Technology ETF

FDTX
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Apr 16 2020
Expense Ratio
0.50%
Type
Global Equities
Fund Owner
Fidelity
Volume (1m avg. daily)
$208,672
AUM
$90,730,231
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

NVDA
NVIDIA Corp
5.59%
ADBE
Adobe Inc
5.49%
WDAY
Workday Inc - Ordinary Shares - Class A
5.37%
CRM
Salesforce Inc
5.22%
MSFT
Microsoft Corporation
5.20%
MDB
MongoDB Inc - Ordinary Shares - Class A
4.38%
GOOG
Alphabet Inc - Ordinary Shares - Class C
4.25%
MRVL
Marvell Technology Inc
3.98%
AMZN
Amazon.com Inc.
3.90%
ASML
ASML Holding NV
3.74%
Invest with FDTX

What is FDTX?

The fund seeks long-term growth of capital. Normally investing at least 80% of assets in securities of disruptive technology companies. 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. Companies within the disruptive technology theme include but are not limited to those companies that, in the Adviser's opinion, are engaged in big data, machine learning, artificial intelligence, cloud computing/software as a service (SaaS), cybersecurity, ecommerce and consumer technologies, rideshare, battery technology, and next generation hardware. In pursuing this investment theme, the fund may invest in companies in any economic sector.

ETFs related toFDTX

ETFs correlated to FDTX include XNTK, THNQ, AIQ

FDTX
Fidelity Covington Trust - Fidelity Disruptive Technology ETF
XNTK
SPDR Series Trust - SPDR NYSE Technology ETF
THNQ
Exchange Traded Concepts Trust - ROBO Global Artificial Intelligence ETF
AIQ
Global X Funds - Global X Artificial Intelligence & Technology ETF
JGRO
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Active Growth ETF
IGM
BlackRock Institutional Trust Company N.A. - iShares Expanded Tech Sector ETF
BULZ
Bank of Montreal - MicroSectorsTM Solactive FANG Innovation 3X Leveraged ETNs
FBCG
Fidelity Covington Trust - Fidelity Blue Chip Growth ETF
TQQQ
ProShares Trust - ProShares UltraPro QQQ 3x Shares
PNQI
Invesco Capital Management LLC - Invesco NASDAQ Internet ETF
QQQM
Invesco Exchange-Traded Fund Trust II - Invesco NASDAQ 100 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 toFDTX

#BTD

Buy the Dips: Nasdaq 100

Category

Featured, Technology Focus

Risk Rating

Aggressive

#BORING

The Not Boring: Rising Rates with Vol Switch

Category

Community

Risk Rating

Aggressive

Create your own algorithmic trading strategy with FDTX using Composer

FAQ

FDTX is a Global Equities ETF. The fund seeks long-term growth of capital. Normally investing at least 80% of assets in securities of disruptive technology companies. 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. Companies within the disruptive technology theme include but are not limited to those companies that, in the Adviser's opinion, are engaged in big data, machine learning, artificial intelligence, cloud computing/software as a service (SaaS), cybersecurity, ecommerce and consumer technologies, rideshare, battery technology, and next generation hardware. In pursuing this investment theme, the fund may invest in companies in any economic sector.

Yes, FDTX 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, FDTX 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 FDTX is -0.0356%. This is the percent change in the value of FDTX over the most recent 1-month period. The 3-month return on FDTX is -0.0599%. This is the percent change in the value of FDTX over the most recent 3-month period.

ETFs similar to FDTX include IXJ, SMH, and URA.

ETFs correlated to FDTX include XNTK, THNQ, and AIQ.

ETFs that are inversely correlated to FDTX include SQQQ, BERZ, 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.