Fidelity U.S. Low Volatility Currency Neutral ETF

Fidelity U.S. Low Volatility Currency Neutral Index ETF (Fund) seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Fidelity Canada U.S. Low Volatility Currency Neutral Index (Index). The Fund invests primarily in equity securities of large and mid capitalization U.S. companies that exhibit lower volatility than the broader U.S. equity market and uses derivatives to try to minimize the exposure of currency fluctuations between the U.S. and Canadian dollars. It invests primarily in equity securities of large and mid capitalization US companies with lower volatility than the broader US equity market. The ETF uses derivatives to try to minimize the exposure to currency fluctuations between the US and Canadian dollars.