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The fund seeks to generate steady income with the potential for capital gains by investing majority of its assets in other Fidelity funds holding global equity and fixed income securities of any kind. In achieving its goal, the fund uses an asset allocation strategy to allocate its exposure to approximately 60% equities and 40% fixed income. Note though that the sub-advisor may change this asset mix by up to +/-20% if doing so can produce desirable return depending on market conditions. When making such decisions, the sub-advisor may consider factors such as macroeconomic conditions, corporate fundamentals, market valuations and investor sentiment. Moreover, at the sub-advisors discretion, the fund may also (1) use derivatives for hedging and non-hedging purposes, (2) invest up to 10% of its assets in precious metals and other physical commodities through Commodity ETFs and derivatives, and (3) hedge some or all its foreign currency exposure.
Fidelity Global Monthly High Income ETF · Issued by Fidelity