Fidelity Clean Energy ETF

Frequently Asked Questions About FRNW

What does FRNW invest in?

Fidelity Covington Trust - Fidelity Clean Energy ETF is an exchange traded fund launched and managed by Fidelity Management & Research Company LLC. The fund is co-managed by Geode Capital Management, LLC. It invests in public equity markets of global region. The fund invests in stocks of companies operating across utilities, independent power and renewable electric producers, renewable electricity, electric power by solar energy, electric power by wind energy, hydrogen and other renewable sources sectors. It invests in growth and value stocks of companies across diversified market capitalization. The fund invests in stocks of companies that are deemed socially conscious in their business dealings and directly promote environmental responsibility. It seeks to track the performance of the Fidelity Clean Energy Index. Fidelity Covington Trust - Fidelity Clean Energy ETF was formed on October 5, 2021 and is domiciled in the United States.

What is the expense ratio of FRNW?

Fidelity Clean Energy ETF (FRNW) charges an expense ratio of 0.39%. This is the annual fee deducted from fund assets to cover management and operations.

How big is FRNW?

Fidelity Clean Energy ETF (FRNW) manages $153.8M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is FRNW actively managed or an index fund?

FRNW is a passive index fund — it tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (FRNW's is 0.39%) because there's no security selection cost.

When was FRNW launched?

Fidelity Clean Energy ETF (FRNW) launched in October 2021 and is managed by Fidelity.

How has FRNW performed?

FRNW's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.