Before investing, consider the investment objectives, risks, charges, and expenses of the fund or exchange-traded fund and its investment options. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
Investing involves risk, including risk of loss.
Alternative or "alt" exchange traded funds and mutual funds ("funds") are publicly offered, SEC-registered funds that use investment strategies that differ from the buy-and-hold strategy typical in the fund industry. As compared to traditional funds, investing in liquid alternatives may involve the use of complex trading strategies including the use of options or other derivatives which may incur additional risk, including the risk of substantial loss. These alternative investment strategies may not be suitable for all investors and are not intended to be a complete investment program for any investor. Please carefully read the prospectus before investing.
Diversification and asset allocation do not ensure a profit or guarantee against loss.
Exchange-traded products (ETPs) are subject to market volatility and the risks of their underlying securities, which may include the risks associated with investing in smaller companies, foreign securities, commodities, and fixed income investments. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks, all of which are magnified in emerging markets. ETPs that target a small universe of securities, such as a specific region or market sector, are generally subject to greater market volatility, as well as to the specific risks associated with that sector, region, or other focus. ETPs that use derivatives, leverage, or complex investment strategies are subject to additional risks. The return of an index ETP is usually different from that of the index it tracks because of fees, expenses, and tracking error. An ETP may trade at a premium or discount to its net asset value (NAV) (or indicative value in the case of exchange-traded notes). The degree of liquidity can vary significantly from one ETP to another and losses may be magnified if no liquid market exists for the ETP's shares when attempting to sell them. Each ETP has a unique risk profile, detailed in its prospectus, offering circular, or similar material, which should be considered carefully when making investment decisions.
Mutual funds and ETFs presented are limited to funds categorized by Morningstar as alternatives or non-traditional equity. This includes sub-categories within the alternatives category: macro trading, event driven, relative value arbitrage, multi-strategy, equity market neutral, and systematic trend, and all sub-categories within the non-traditional equity category: long-short equity, derivative income, equity hedged, and defined outcome.
The funds presented are listed by the investment categories provided by Morningstar. While Fidelity believes the data gathered from Morningstar is reliable, it does not review such information and cannot warrant it to be accurate, or timely. Fidelity is not responsible for any damages or losses arising from any use of third-party information.
Non-Fidelity products presented are limited to those offered by fund companies whose sponsors compensate Fidelity Brokerage Services (FBS) and its affiliates through fixed annual fees to participate in exclusive access, engagement, and analytics programs. The only fund companies eligible to participate in these programs are those that have adequately compensated FBS or its affiliates for shareholder servicing in support of their products on the Fidelity platforms. Within this category, only mutual funds and ETFs with the characteristics outlined below will be included. In addition, a maximum of four funds per category will be displayed.
- Have at least a one-year track record
- A minimum of $100M in net portfolio assets
- Investment minimum must be less than or equal to $5,000
Please note that when more than four funds are identified by the criteria, the top four funds sorted by net portfolio assets will be displayed. Additionally, as a result of the selection criteria there may be situations when zero or one fund is displayed for certain Morningstar sub-categories.
Fidelity Hedged Equity ETF and Fidelity Dynamic Buffered Equity ETF: The funds may purchase or write put and call options. The notional downside protection offered by the option may be less or greater than the value of the fund's portfolio. Options may involve economic leverage, which could result in greater volatility in price movement. Certain transaction costs associated with purchasing and writing options may impact the Fund's returns and in highly volatile markets the cost is expected to increase. An ETF may trade at a premium or discount to its net asset value (NAV). These alternative investment strategies may not be suitable for all investors and are not intended to be a complete investment program for any investor. There is no assurance that the ETFs will be profitable.
Fidelity Yield Enhanced Equity ETF: Writing call options involves risk that the underlying security or instrument is sold at a disadvantageous price and may not fully protect the fund against market decline. An ETF may trade at a premium or discount to its Net Asset Value (NAV). These alternative investment strategies may not be suitable for all investors and are not intended to be a complete investment program for any investor. There is no assurance that the ETFs will be profitable.
Information provided in, and presentation of, this document are for informational and educational purposes only and are not a recommendation to take any particular action, or any action at all, nor an offer or solicitation to buy or sell any securities or services presented. It is not investment advice. The funds displayed on this page are just a starting point for your research into liquid alternatives. You can use the mutual fund and ETF screeners linked above to research other investments in these and other Morningstar categories. As with all your investments through Fidelity, you must make your own determination whether an investment in any particular security or securities is consistent with your investment objectives, risk tolerance, financial situation, and evaluation of the security Fidelity does not provide legal or tax advice.
Fidelity Diversifying Solutions LLC ("FDS") is an SEC registered investment adviser, a registered commodity pool operator and a registered commodity trading advisor. FDS is a wholly owned subsidiary of FMR LLC. "Fidelity Investments" and/or "Fidelity" refers collectively to FMR LLC, a U.S. company, and its subsidiaries, including but not limited to Fidelity Management & Research Company LLC (FMR) and FDS.
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