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FDCF

GradeFNASDAQ Global Market

Fidelity Disruptive Communications ETF

Sectors · Fidelity · Inception 2020-04-16

$52.10−0.40 (−0.76%)

As of Sep 23, 2026, 2:13 PM EDT

History starts Jun 15, 2023.
Intraday session: down, 26 prints from 52.50 to 52.10. Range 51.85 to 52.31. Use the arrow keys to read each point.$51.80$52.00$52.2010 AM12 PM2 PM4 PM
Expense ratio
0.50%
Fund size
$101M
1Y return
+4.6%
Yield · Last 12 months
0.00%
Holdings
42
Volume · 30D
0M sh
NAV per share
$52.37
52W range
low $41.23high $52.66

The ETF.net FDCF Grade

F

24/ 100

Rank 10 of 10 in Communication Services (Broad)⁠

Confidence Medium

Six-pillar profile for FDCF. Scores out of 100: Cost 8, Risk 31, Mission 79, Tradability 21, Holdings 60, Durability 40. Strongest: Mission (79). Weakest: Cost (8). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 24 of 100 sits in the F band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 8
    Category rank10/10 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 79
    Category rank2/3 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 31
    Category rank10/10 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 21
    Category rank9/10 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 60
    Category rank4/10 · top 40%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 40
    Category rank7/10 · mid-pack

Graded as of Sep 22, 2026

Our read on FDCF

ETF.net Research

FMost communication services ETFs hand you the same megacap index. FDCF goes hunting instead: a global, roughly 40-stock portfolio of companies picked for disrupting how the world connects.

Stated mandate

The fund seeks long-term growth of capital and normally invests at least 80% of its assets in securities of disruptive communications companies.

Why people hold it

  1. 01The mandate is literal: at least 80% of assets in disruptive communications companies, held in a concentrated book of roughly 40 names.institutional.fidelity.com
  2. 02Global by charter, not a US-only sleeve, which widens the opportunity set beyond the domestic sector benchmarks that dominate this corner of the market.
  3. 03What's inside matches what's on the label: the holdings read like a communications-disruption fund, not a sector tracker wearing a theme sticker.
  4. 04Fidelity has run it since 2020, so the strategy has a multi-year record behind the pitch rather than a brand-new launch.

Worth knowing

  1. 01You pay for the stock picking: 0.50% a year, against 0.08% for plain index peers like XLC and FCOM and a 0.37% median across the group.
  2. 02About 40 holdings in a single theme means individual names carry real weight, and the ride can look nothing like a broad communication services index.
  3. 03Trades thinly and runs small next to the category's giants, so the quoted spread deserves a closer look than it would on a mega-fund.

FDCF Holdings

As of Sep 21, 2026, 3:24 PM
Asset class
Stocks
Holdings
42
Top-10 weight
53%
Largest holding
GOOGL8.1%

Sectors

  • Communication47.5%
  • Technology37.9%
  • Consumer Discr.11.0%
  • Industrials3.7%

Geography

  • United States79.55%
  • Taiwan7.31%
  • Singapore3.01%
  • Canada2.86%
  • Sweden2.74%
  • China2.60%
  • South Korea1.20%
  • Netherlands0.72%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001GOOGLALPHABET INC CL A8.09%23,518$8M704
002METAMETA PLATFORMS INC CL A7.98%12,176$8M683
003TSMTAIWAN SEMIC MFG CO LTD SP ADR7.48%17,484$8M268
004NVDANVIDIA CORP5.86%26,807$6M828
005AAPLAPPLE INC5.29%15,981$5M707
006AMZNAMAZON.COM INC5.05%20,224$5M720
007SPCXSPACE EXPLORATION TECH CORP A3.84%25,584$4M268
008TWLOTWILIO INC CLASS A3.33%13,879$3M271
009RBLXROBLOX CORP3.29%69,826$3M177
010FOXAFOX CORP CL A3.20%50,500$3M296
011APPAPPLOVIN CORP3.10%10,217$3M407
012SESEA LTD ADR3.06%30,579$3M134
013QBR-B.TOQUEBECOR INC CL B SUB VTG2.93%64,591$3M39
014ANETARISTA NETWORKS INC2.89%14,723$3M490
015639.DESPOTIFY TECHNOLOGY SA2.67%5,329$3M93

Showing 1–15 of 39 holdings

FDCF Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

FDCF$10,458
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. FDCF $10,458. SPY $11,723. Use the arrow keys to read each point.$7,929$9,987$12,046Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FDCF. Periods over one year show the average yearly return.
PeriodFDCF
Year to date+9.2%
1 month+4.4%
3 months+6.8%
1 year+4.6%
3 years+28.9%per year
5 yearsHistory unavailable—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FDCF
YearReturn barFDCF
2026 YTD+9.2%
2025+27.3%
2024+28.1%
2023+13.5%

History from Jun 15, 2023

FDCF in the news

ETF.net Research hasn’t filed on FDCF yet — coverage lands here as it’s written.

FDCF Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
0.00%Last 12 months
Payout per share
NoneLast 12 months

No distributions in the last 12 months.

Distribution history

Payments through 2025

One bar per payment. 2 payments from 2024 to 2025. Jun 21, 2024 $0.03; Jun 20, 2025 $0.02. Use the arrow keys to read each point.20242025
Ex-datePay dateAmount per share
Jun 20, 2025Jun 24, 2025$0.02
Jun 21, 2024Jun 25, 2024$0.03

FDCF Risk

How much the fund’s monthly returns vary, scaled to a year.
17.5%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.09
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−22.6%
39 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.22
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FDCF Cost

Expense ratio0.50%
  • The middle half of Communication Services (Broad) funds
  • Median 0.35%

Every other Communication Services (Broad) fund charges less.

FDCF costs $50.00 a year on $10,000. The median Communication Services (Broad) fund costs $35.00.