Fidelity MSCI Information Technology Index ETF (FTEC US) - Portfolio Construction Methodology

Core Insights - The Fidelity MSCI Information Technology Index ETF (FTEC US) provides exposure to U.S. information technology across large, mid, and small-cap stocks through a float-adjusted, cap-weighted methodology [1] Group 1: Index Construction - The underlying index is the MSCI USA IMI Information Technology 25/50 Index, which follows MSCI's IMI framework for U.S.-domiciled equities classified under GICS Information Technology [1] - The index includes stocks that meet investability tests, such as a minimum free-float market cap of at least 50% of the applicable size-segment cutoff [1] - For stocks with a foreign inclusion factor of less than 0.15, a heightened size test of 1.8 times the minimum is applied [1] Group 2: Liquidity Requirements - Developed-market liquidity criteria include a minimum of 20% 12-month Average Total Volume Ratio (ATVR), 20% 3-month ATVR, and 90% 3-month trading frequency, assessed over the last four consecutive quarters [1] Group 3: Size Segmentation and Weighting - The size segmentation aims for 85% coverage for the Standard index and 99% for the IMI [1] - Constituents are weighted based on float-cap and constrained quarterly by the 25/50 rule, which limits any issuer to a maximum of 25% and the sum of issuers exceeding 5% to a maximum of 50% [1] - Reviews of the index are conducted quarterly, with changes taking effect on the last business day of the review period [1]