ETF Evaluator:
Fidelity Stocks for Inflation ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Large Blend Over the Last Year
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| 33.9% | Impact Shares NAACP Minority Empwrmt ETF (NACP) |
| 31.8% | Astoria US Equal Weight Quality KingsETF (ROE) |
| 30.5% | FIS Bright Portfolios Focused Equity ETF (BRIF) |
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ETF Details
Fidelity Stocks for Inflation ETF Overview
Fidelity Stocks for Inflation ETF (FCPI) is a passively managed U.S. Equity Large Blend exchange-traded fund (ETF). Fidelity Investments launched the ETF in 2019.
The investment seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Stocks for Inflation Factor Index℠.
The fund normally invests at least 80% of its assets in securities included in the Fidelity Stocks for Inflation Factor Index℠, which is designed to reflect the performance of stocks of large and mid-capitalization U.S. companies with attractive valuations, high quality profiles and positive momentum signals, emphasizing industries that tend to outperform in inflationary environments.
About Fidelity Stocks for Inflation ETF (FCPI)
There are 5 members of the management team with an average tenure of 6.74 years: Louis Bottari (2019), Payal Gupta (2019), Peter Matthew (2019), Navid Sohrabi (2019) and Robert Regan (2019). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Russell 1000 TR USD index with a weighting of 100% and Fidelity Stocks for Infl Factor TR USD index with a weighting of 100%. Fidelity Stocks for Inflation ETF has 105 securities in its portfolio. The top 10 holdings constitute 35.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Fidelity Stocks for Inflation ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Fidelity Stocks for Inflation ETF has 0.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.3% There is 0.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Fidelity Stocks for Inflation ETF has 2.2% of the portfolio in cash.
Assets Under Management
The fund has $270 million in total assets, which is below the $13 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FCPI Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Fidelity Stocks for Inflation ETF expense ratio is low compared to funds in the Large Blend category. Fidelity Stocks for Inflation ETF has an expense ratio of 0.15%, which is 64% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Fidelity Stocks for Inflation ETF has a portfolio turnover rate of 77%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 158% for the Large Blend category.
Recently, in the month of July 2026, Fidelity Stocks for Inflation ETF returned -0.0%, which earned it a grade of C, as the Large Blend category had an average return of -0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Fidelity Stocks for Inflation ETF has a trailing yield of 1.60%, which is above the 1.16% category average.
The fund normally distributes its income quarterly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Fidelity Stocks for Inflation ETF Grades
Year to date, the ETF has returned 11.1%, 1.5 percentage points better than the category, which translates into a grade of B. The fund has returned 17.8% over the past year (grade of C), 19.6% over the past three years (grade of B) and 14.1% per year over the past five years (grade of A).
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FCPI Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FCPI Return (NAV) | -0.0% | 3.7% | 17.8% | 19.6% | 14.1% | na |
| FCPI Return (Price) | 0.1% | 3.8% | 17.9% | 19.6% | 14.1% | na |
| NAV +/- Price Return | -0.081% | -0.085% | -0.059% | -0.009% | 0.006% | na |
| Large Blend Avg | -0.8% | 3.7% | 17.5% | 17.4% | 11.2% | 13.6% |
| FCPI Grade (NAV) | C | D | C | B | A | na |
| +/- Category (NAV) | 0.8% | -0.0% | 0.3% | 2.1% | 2.9% | na |
| FCPI Tax-Cost Ratio | na | na | 0.6% | 0.5% | 0.5% | na |
FCPI Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FCPI Return (NAV) | 11.1% | 16.4% | 25.4% | 15.3% | -7.1% | 34.4% | 2.1% | na | na | na | na |
| FCPI Return (Price) | 11.3% | 16.2% | 25.5% | 15.4% | -7.1% | 34.2% | 2.2% | na | na | na | na |
| NAV +/- Price Ret | 0.021% | -0.011% | 0.005% | 0.005% | 0.007% | -0.006% | 0.050% | na | na | na | na |
| Large Blend Avg | 9.5% | 15.3% | 21.9% | 22.9% | -17.1% | 26.9% | 18.3% | 29.6% | -5.1% | 21.5% | 11.4% |
| FCPI Grade (NAV) | B | C | B | F | A | A | F | na | na | na | na |
| +/- Category | 1.5% | 1.1% | 3.5% | -7.5% | 10.0% | 7.5% | -16.2% | na | na | na | na |
| Risk Measures | |
| Beta: | 0.87 |
| R-Squared: | 83% |
| Standard Deviation: | 12.5% |
| Category Risk Index: | 0.93 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 1.02 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 1.6% |
| Total Assets: | $ 270 Mil |
| Share Class Assets: | $ 270 Mil |
| Turnover: | 77.0% |
| Expense Ratio: | 0.15% |
| Index Fund: | Yes |
| Index Tracked: | Russell 1000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 6.7 years | |||
| Average Tenure: 6.7 years | |||
| Managers (Year): Bottari Louis (2019), Gupta Payal (2019), Matthew Peter (2019), Sohrabi Navid (2019), Regan Robert (2019) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 105 |
| % in Top 10 Holdings: | 35.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.6% |
Portfolio Allocation |
|
| Domestic Stock: | 99.3% |
| Foreign Stock: | 0.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -2.1% |
| Cash: | 2.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Fidelity Investments |
| Phone Number: | 800-343-3548 |
| Website: | www.institutional.fidelity.com |
| Inception Date: | November 5, 2019 |
Expenses and Fees
| Expense Ratio (%): | 0.15% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.41% |
