Fidelity has filed for two multifactor index-based funds that will invest in emerging and developed markets, respectively. The Fidelity Targeted Emerging Markets Factor ETF and Fidelity Targeted International Factor ETF track benchmarks that target the value, quality, momentum and low-volatility factors.
The two funds will invest primarily in large- and midcap stocks that have lower-than-average correlations with the U.S. stock market.
The filing does not include a ticker or expense ratio. However, the prospectus indicates the funds will list on Cboe Global Markets, the parent company of ETF.com.
Fidelity currently has 25 ETFs listed in the U.S.
Contact Heather Bell at [email protected]