Fidelity Investments® Builds out Active Enhanced ETF Suite With the Launch of Four Small, Mid Cap ETFs

New Strategies Strengthen Fidelity’s Active ETF Offering, Bolster its $149 Billion Exchange-Traded Lineupⁱ

BOSTON, April 30, 2026–(BUSINESS WIRE)–Fidelity Investments^® today announced the launch of Fidelity Enhanced Mid Cap Growth ETF (FEMG), Fidelity Enhanced Mid Cap Value ETF (FEMV), Fidelity Enhanced Small Cap Growth ETF (FSEG), and Fidelity Enhanced Small Cap Value ETF (FSEV), four active ETFs that build upon the firm’s existing Enhanced ETF suite launched in 2023 and is now inclusive of 12 ETFs. The ETFs are listed on NYSE Arca, Inc. and available today commission-free for individual investors and financial advisors through Fidelity’s online brokerage platforms.

“Expanding the Enhanced ETF suite with growth and value-oriented strategies in the small and mid-cap space is a natural next step,” said Greg Friedman, head of ETFs at Fidelity Investments. “We continue to see heightened investor demand for actively managed, systematic and factor-based solutions in the ETF wrapper, reinforcing Fidelity’s commitment to providing investors choice and superior value through our exchange-traded lineup.”

The Enhanced ETF suite seeks to deliver targeted exposure to market segments through a proprietary, disciplined, actively managed investment process that quantitatively evaluates securities through factors rooted in fundamentals and non-traditional data sources. The new ETFs employ team-based portfolio management including experienced co-managers Anna Lester, George Liu, and Shashi Naik alongside a team of dedicated quantitative researchers. The products are competitively priced with a gross expense ratio of 0.23% for FEMG and FEMV, and 0.28% for FSEG and FSEV. To learn more about Fidelity’s Enhanced ETF Suite and the new strategies, visit An enhanced approach to core equity ETFs.

“The Enhanced ETF suite is a manifestation of Fidelity’s deep quantitative investing capabilities, combining proprietary data, world-class research and rigorous testing to create a differentiated approach to active management based on systematic stock selection and risk management,” said Neil Constable, head of Quantitative Research and Investments at Fidelity Investments. “The team develops systematic frameworks to gain exposure to companies with attractive characteristics—all while maintaining controlled levels of risk and market exposures. The result is a disciplined, repeatable approach delivered in a low‑cost actively managed ETF wrapper.”

Led by Neil Constable, Fidelity’s Quantitative Research and Investments is an integrated division of more than 250 quants, data-scientists and technologists within Asset Management that unites decades of proprietary data, advanced systematic approaches, and expert human insight to help uncover opportunity for clients.

Active ETF Allocation Increases Across Advisor Portfolios

Fidelity’s Portfolio Construction team analyzes thousands of professionally managed investment portfolios annually, fueling its Portfolio Construction Insights on the latest portfolio trends among advisors. Active ETF usage is on the rise across all major asset classes, as the vehicle may be an attractive option for advisors seeking tax efficiency, implementation flexibility, and portfolio precision. In Q1 of 2026, Fidelity saw 38% of incoming portfolios with an allocation to active ETFs—up from 13% in 2022, and an average active ETF allocation of 24%—up from 15% in 2022ⁱⁱ.

Fidelity’s Growing Exchange-Traded Platform

With today’s launch, Fidelity’s exchange-traded lineup consists of 81 ETFs and ETPs with $149 billion in assets under management ⁱ, including 33 actively managed equity ETFs, 15 fixed income ETFs, 13 equity factor ETFs, five passive thematic ETFs, 11 passive equity sector ETFs, three digital asset ETPs and Fidelity ONEQ. Most recently, Fidelity added two CLO ETFs to the lineup: Fidelity AAA CLO ETF (FAAA) and Fidelity CLO ETF (FCLO).

As part of Fidelity’s commitment to financial education, the company offers a variety of resources to help investors review exchange-traded investing ideas, decide which types of exchange-traded offerings may fit their investing needs, or browse offerings with Fidelity’s screeners: Investing in ETFs/ETPs | Fidelity Investments or Fidelity ETFs & ETPs | Fidelity Institutional. As a leading provider of exchange-traded offerings, Fidelity’s platform offers individual investors and advisors access to more than 5,000 exchange-traded offerings, with nearly $2.1 trillion in exchange-traded assets ⁱⁱⁱ.

About Fidelity Investments

Fidelity’s goal is to strengthen the financial well-being of our customers and deliver better outcomes for the clients and businesses we serve. Fidelity’s strength comes from the scale of our diversified, market-leading financial services businesses that serve individuals, families, employers, wealth management firms, and institutions. With assets under administration of $18.0 trillion, including managed assets of $7.1 trillion as of December 31, 2025, we focus on meeting the unique needs of a broad and growing customer base. Privately held for 79 years, Fidelity employs more than 80,000 associates across North America, Europe, and Asia-Pacific. For more information about Fidelity Investments, visit https://www.fidelity.com/about-fidelity/our-company.

Unless otherwise expressly disclosed to you in writing, the information provided in this material is for educational purposes only. Any viewpoints expressed by Fidelity are not intended to be used as a primary basis for your investment decisions and are based on facts and circumstances at the point in time they are made and are not particular to you. Accordingly, nothing in this material constitutes impartial investment advice or advice in a fiduciary capacity, as defined or under the Employee Retirement Income Security Act of 1974 or the Internal Revenue Code of 1986, both as amended. Fidelity and its representatives may have a conflict of interest in the products or services mentioned in this material because they have a financial interest in the products or services and may receive compensation, directly or indirectly, in connection with the management, distribution, and/or servicing of these products or services, including Fidelity funds, certain third-party funds and products, and certain investment services. Before making any investment decisions, you should take into account all of the particular facts and circumstances of your or your client’s individual situation and reach out to an investment professional, if applicable.

Views expressed are as of the date indicated, based on the information available at that time, and may change based on market or other conditions. Unless otherwise noted, the opinions provided are those of the speaker or author and not necessarily those of Fidelity Investments or its affiliates. Fidelity does not assume any duty to update any of the information.

Stock markets, especially foreign markets, are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Although the funds seek to beat the index, this is not guaranteed, and these funds may trail the index. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks.

Growth stocks can perform differently from the market as a whole and other types of stocks and can be more volatile than other types of stocks.

Securities selected using quantitative analysis can perform differently from the market as a whole as a result of the factors used in the analysis, the weight placed on each factor, and changes in the factors’ historical trends.

The value of securities of medium and smaller size, less well-known issuers can perform differently from the market as a whole and other types of stocks and can be more volatile than that of larger issuers.

Exchange-traded products (ETPs) are subject to market volatility and the risks of their underlying securities, which may include the risks associated with investing in smaller companies, foreign securities, commodities, and fixed income investments. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks, all of which are magnified in emerging markets. ETPs that target a small universe of securities, such as a specific region or market sector, are generally subject to greater market volatility, as well as to the specific risks associated with that sector, region, or other focus. ETPs that use derivatives, leverage, or complex investment strategies are subject to additional risks. The return of an index ETP is usually different from that of the index it tracks because of fees, expenses, and tracking error. An ETP may trade at a premium or discount to its net asset value (NAV) (or indicative value in the case of exchange-traded notes). The degree of liquidity can vary significantly from one ETP to another and losses may be magnified if no liquid market exists for the ETP’s shares when attempting to sell them. Each ETP has a unique risk profile, detailed in its prospectus, offering circular, or similar material, which should be considered carefully when making investment decisions.

Applies to online purchases of Fidelity ETFs in a Fidelity retail account. Commission free does not apply to customers designated by Fidelity as a Professional Equity Trader who are subject to an equity commission charge of $0.001 per share rounded up to the nearest $0.01 on a per order basis. For complete details on pricing please see: Fidelity.com/commissions. The sale of ETFs is subject to an activity assessment fee historically from $0.01 to $0.03 per $1,000 of principal.

ETFs are subject to market fluctuation, the risks of their underlying investments, management fees, and other expenses.

Diversification does not ensure a profit or guarantee against a loss. Past performance is no guarantee of future results.

Before investing in any exchange-traded fund, you should consider its investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus, offering circular or, if available, a summary prospectus containing this information. Read it carefully.

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ⁱ Assets under management as of March 31, 2026.
ⁱⁱ Fidelity Institutional 2026 Portfolio construction insights, (3,081 Portfolio Reviews and Portfolio Quick Checks conducted between 1/1/26 and 3/31/26).
ⁱⁱⁱ Data as of March 31, 2026.

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