Fidelity All-in-One Conservative ETF

The fund aims for income and capital growth by actively investing through a conservative asset-allocation approach. The portfolio is a “neutral mix” of global securities comprised of approximately 40% equities and 59% fixed income, with about 1% of assets invested in cryptocurrencies. At least 10% of the fund’s assets are invested in Fidelity funds, of which more than 10% of each underlying fund’s assets are invested in other underlying funds. The portfolio managers are responsible for the selection of underlying funds with various target assets and styles, allowing a multi-manager approach. The portfolio is rebalanced annually. The portfolio managers have full discretion to make buy, sell, or hold decisions at any time.