Fidelity U.S. High Quality ETF

Fidelity U.S. High Quality Index ETF Fund (Fund) invests substantially all of its assets in securities of its underlying fund, Fidelity U.S. High Quality Index ETF (Underlying Fund). The Underlying Fund seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Fidelity Canada U.S. High Quality Index (Index). This Underlying Fund invests primarily in equity securities of large and mid capitalization U.S. companies with a higher quality profile than the broader U.S. equity market. It invests primarily in equity securities of large and mid capitalization U.S. companies with a higher quality profile than the broader US equity market.