FBND – Fidelity Total Bond ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks a high level of current income. Normally, the fund invests at least 80% of assets in debt securities of all types and repurchase agreements for those securities. The manager uses the Bloomberg U.S. Universal Bond Index as a guide in allocating assets across the investment-grade, high yield, and emerging market asset classes. The fund invests up to 20% of assets in lower-quality debt securities. It is managed to have similar overall interest rate risk to the index.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
FBND	Fidelity Total Bond ETF	ETF	Open			Oct 6, 2014	$27.96B	0.360%	—	—	$7.58B

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