(Exchange-traded funds and open-end mutual funds are considered a single population for comparative purposes.) It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a funds monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating TM for funds, or 'star rating,' is calculated for funds with at least a three-year history. **The Overall Morningstar Rating TM for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics, which are based on risk-adjusted returns. This chart is not intended to imply any future performance of the fund. Figures include reinvestment of capital gains and dividends, but do not reflect the effect of any applicable sales charges or redemption fees, which would lower these figures. *The chart illustrates the NAV performance of a hypothetical $10,000 investment made in the fund on or on commencement of operations (whichever is later). Unlike mutual funds, ETF shares are bought and sold at market price, which may be higher or lower than their NAV, and are not individually redeemed from the fund.

ETFs are subject to management fees and other expenses. ETFs are subject to market fluctuation and the risks of their underlying investments. The sale of ETFs is subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). Current performance may be higher or lower than the performance data quoted.įree commission offer applies to online purchases select ETFs in a Fidelity brokerage account. Investment return and principal value of an investment will fluctuate therefore, you may have a gain or loss when you sell your shares.

The performance data featured represents past performance, which is no guarantee of future results. ET and do not represent the returns an investor would receive if shares were traded at other times. Market returns are based on the closing price on the listed exchange at 4 p.m. Life as of NAV inception date: Life market returns are as of the first day the ETF traded on an exchange, which may occur a few days after the NAV inception date. Quarter-End Average Annual Total Returns AS OF

The fund's historical performance may not represent its current investment policies and the fund's returns prior to Decemmay not match the historical returns of the new benchmark. Prior to December 1, 2020, the fund compared its performance to a different benchmark. The fund may or may not hold all of the securities in the MSCI USA IMI Industrials Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield) and liquidity measures similar to those of the index. 'Representative sampling' is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to the index. Using a representative sampling indexing strategy to manage the fund. The fund's underlying index is the MSCI USA IMI Industrials Index, which represents the performance of the industrial sector in the U.S. Investing at least 80% of assets in securities included in the fund's underlying index. Seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI USA IMI Industrials Index.

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