Fidelity Covington Trust - Fidelity Sustainable High Yield ETF

Fidelity Covington Trust - Fidelity Sustainable High Yield ETF is an exchange traded fund launched and managed by Fidelity Management & Research Company LLC. The fund is co-managed by Fidelity Management & Research (Hong Kong) Limited, Fidelity Management & Research (Japan) Limited, FMR Investment Management (UK) Limited. It invests in fixed income markets of global region. The fund invests in below investment grade corporate bonds, government securities, repurchase agreements, money market securities, mortgage and other asset-backed securities, loans and loan participations, and other securities believed to have debt-like characteristics, including hybrids and synthetic securities that are rated BBB- or its equivalent by at least one nationally recognized statistical ratings organization. It invests in securities of companies that are deemed socially conscious in their business dealings and directly promote environmental responsibility. It employs fundamental and quantitative analysis with bottom-up securities picking approach to create its portfolio. It seeks to benchmark the performance of its portfolio against the ICE BofA US High Yield Constrained Index, the ICE US High Yield Best-in-Class ESG Index and the Bloomberg U.S. Universal Bond Index. The fund employs proprietary research to create its portfolio. Fidelity Covington Trust - Fidelity Sustainable High Yield ETF was formed on February 15, 2022 and is domiciled in the United States.