ETF Evaluator: Fidelity Fundamental Global ex-U.S. ETF () Follow This ETF

Fidelity Fundamental Global ex-U.S. ETF Overview

Fidelity Fundamental Global ex-U.S. ETF (FFGX) is an actively managed International Equity Foreign Large Growth exchange-traded fund (ETF). Fidelity Investments launched the ETF in 2024.

The investment seeks long-term growth of capital. Normally investing primarily in non-U.S. securities, including securities of issuers located in emerging markets. Emerging markets include countries that have an emerging stock market as defined by MSCI, countries or markets with low- to middle-income economies as classified by the World Bank, and other countries or markets that the Adviser identifies as having similar emerging markets characteristics.

About Fidelity Fundamental Global ex-U.S. ETF (FFGX)

There are 3 members of the management team with an average tenure of 1.70 years: Timothy Gannon (2024), Michael Kim (2024) and Ned Salter (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 1 primary benchmark: MSCI ACWI Ex USA NR USD index with a weighting of 100%. Fidelity Fundamental Global ex-U.S. ETF has 185 securities in its portfolio. The top 10 holdings constitute 26.3% 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 Fundamental Global ex-U.S. ETF is part of the Equity global asset class and is within the International Equity ETF group. Fidelity Fundamental Global ex-U.S. ETF has 98.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.7% There is 98.7% 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 Fundamental Global ex-U.S. ETF has 0.7% of the portfolio in cash.

Assets Under Management

The fund has $54 million in total assets, which is below the $1 billion average for the Foreign Large Growth 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.

FFGX 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 Fundamental Global ex-U.S. ETF expense ratio is average compared to funds in the Foreign Large Growth category. Fidelity Fundamental Global ex-U.S. ETF has an expense ratio of 0.55%, which is 6% 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 Fundamental Global ex-U.S. ETF has a portfolio turnover rate of 49%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 58% for the Foreign Large Growth category.

Recently, in the month of July 2026, Fidelity Fundamental Global ex-U.S. ETF returned -1.3%, which earned it a grade of C, as the Foreign Large Growth category had an average return of -2.8%. 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 Fundamental Global ex-U.S. ETF has a trailing yield of 1.54%, which is above the 1.31% category average. The fund normally distributes its income quarterly and its capital gains annually.

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 Fundamental Global ex-U.S. ETF Grades

Year to date, the ETF has returned 12.6%, 4.3 percentage points better than the category, which translates into a grade of B. The fund has returned 21.9% over the past year (grade of B).

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