Fidelity Enhanced Emerging Markets ETF SEC Filings

Fidelity Covington Trust – Fidelity Women's Leadership ETF filed its monthly Form NPORT-P for the period ending 30 April 2025.

• Net assets: $3,740,833.11 on total assets of $3,742,617.09; liabilities are immaterial at $1,783.98.
• Capital structure: No borrowings, preferred shares, standby commitments or payables for delayed-delivery purchases were reported.
• Liquidity: Cash & cash equivalents total $23,775.86, representing roughly 0.6% of net assets.
• Risk metrics: The fund reported no credit-spread sensitivity data, suggesting debt exposure is below the 25 % materiality threshold.
• Securities lending: Counterparties did not supply non-cash collateral.
• Performance: Three-month total returns were -3.23 %, -6.46 % and -1.10 %, indicating modest but consecutive monthly losses.
• Derivatives: No realised or unrealised gains/losses across commodity, credit, equity, FX or rate contracts; all derivative instrument buckets report zeros.
• Final filing status: The fund does not anticipate this to be its final NPORT-P submission.

The filing is largely routine, disclosing a small-sized ETF with minimal leverage, limited derivatives exposure and recent negative performance.

Fidelity Covington Trust – Fidelity U.S. Multifactor ETF filed its monthly Form N-PORT for the period ended 30 Apr 2025.

Key balance-sheet data show total assets of $205.91 million against liabilities of $0.12 million, leaving net assets of $205.79 million; leverage appears immaterial. No borrowings, delayed-delivery payables, or preferred stock are outstanding, and cash not otherwise classified totals $44.7 thousand.

Securities lending activity is modest. Loans to BOFA Securities Inc. and Jefferies LLC aggregate $1.79 million. Non-cash collateral of $1.76 million, primarily U.S. Treasuries, secures these transactions, suggesting strong counter-party risk management.

Performance for the three reported months was negative: -1.32 %, -4.05 %, and -0.66 %, respectively. Derivatives exposure is de minimis; the fund reported zero realized or unrealized gains and no credit-spread sensitivity metrics because debt securities represent less than 25 % of NAV.

Overall, the filing depicts a low-leverage, factor-based ETF with negative short-term returns but healthy asset coverage and conservative risk posture.

Fidelity Covington Trust filed a Form N-PORT-P covering the Fidelity Sustainable U.S. Equity ETF as of 30 April 2025.

• Net assets: $14.09 million (total assets $14.10 million; liabilities $6.6 thousand).
• Cash & cash equivalents: $183.2 thousand.
• Borrowings, preferred stock, payables on firm-commitment purchases: all reported at $0.
• Securities-lending collateral: no non-cash collateral reported.
• Recent performance: last three monthly total returns were -4.74%, -7.47%, and +1.00%.
• Risk metrics: no credit-spread sensitivity data provided; fund appears to have no material debt exposure.

The filing is routine portfolio information and does not indicate any major transactions, leverage, or material changes to the fund’s structure.

Fidelity Covington Trust filed Form NPORT-P for its Momentum Factor ETF (FEMR) for the period ending April 30, 2025. The fund reported total assets of $432.46 million and net assets of $423.21 million with liabilities of $9.25 million.

Key portfolio metrics:

• The fund is actively engaged in securities lending with 7 different counterparties, including major institutions like Goldman Sachs, State Street, and BofA Securities
• Total securities on loan value: approximately $12.57 million
• Non-cash collateral of $3.56 million held in U.S. Treasuries

Performance metrics show mixed returns over the previous three months:

• Month 1: -2.97%
• Month 2: -6.93%
• Month 3: +1.40%