Fidelity USD Corp Bond Research Enhanced UCITS ETF Acc

Objective: The investment objective of the Sub-Fund is to achieve income and capital growth. Investment Policy: The Sub-Fund aims to achieve its investment objective on an active basis by investing in a portfolio primarily made up of USD denominated investment grade corporate debt securities of issuers globally. Investment Process: The fund is actively managed and references the Bloomberg US Corporate Bond Index (the "Benchmark") as part of its investment process. The Investment Manager aims to deliver attractive risk-adjusted returns by optimising the level of return per unit of risk, or conversely, by minimising risk for a given level of return. To achieve this, the Investment Manager applies a bottom-up security selection approach based on fundamental and relative-value credit analysis. A multi-factor model is used to assess corporate issuers using financial data such as credit spreads, bond and equity prices, and company fundamentals. Each issuer is allocated a factor score combining: (a) sentiment (e.g. equity volatility, credit spreads), (b) fundamentals (e.g. profitability, debt servicing capacity, leverage), and (c) valuation (relative pricing versus peers). The factor scores, along with bond-specific characteristics, transaction costs, and relative weights versus the Benchmark (by issuer, sector, country, duration, etc.), are used to construct a portfolio aimed at outperforming the Benchmark. The Investment Manager integrates ESG considerations into the security selection process and aims for the portfolio to achieve a higher ESG score than the Benchmark. ESG data from Fidelity and external providers is assessed, and the manager promotes good governance among investee companies. However, ESG factors may not be determinative in all investment decisions. For more information, see the "Sustainable Investing and ESG Integration" and Sustainability Annex sections of the Prospectus. Benchmark: Bloomberg US Corporate Bond Index, an index that takes

Gestione attiva

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No