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About Fidelity Enhanced High Yield ETF
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Inception date
Jun 12, 2018
Structure
Open-Ended Fund
Distributes
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Tax on distributions
Ordinary income
FDHY is actively managed and is one of the first fixed income ETFs to incorporate a factor-based approach. The fund manager uses a quantitative model to screen over 1,000 high-yield bonds for value and quality metrics, using an index to guide the credit quality and risk characteristics of individual issues and the fund overall. The index is limited to higher-rated (B or BB) junk bonds, but FDHY is not necessarily constrained to these securities. The final selection is actively managed in order to optimize trading costs. FDHY does not target a specific duration. Prior to October 10, 2024, the fund was named Fidelity High Yield Factor ETF.
Classification
What's in the fund
Exposure type
Corporate
Bonds, Cash & Other100.00%
Corporate97.34%
Mutual fund10.32%
Futures−0.02%
Cash−7.64%
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