FREI

Fidelity Real Estate Income ETF is an actively managed fund that normally invests at least 80% of its assets in a blend of income-producing equity and debt securities issued by domestic and foreign companies principally engaged in the real estate industry or related sectors. The management strategy relies on fundamental analysis of each issuer's financial position alongside broader macroeconomic factors to construct a diversified portfolio, emphasizing real estate investment trusts (REITs), commercial mortgage-backed securities (CMBS), and lower-quality, non-investment-grade debt instruments to generate high current income and potential capital appreciation.