---
ticker: "FFEM"
name: "Fidelity Covington Trust - Fidelity Fundamental Emerging Markets ETF"
url: "https://etf.net/etf/FFEM"
grade: "A"
score: 76
graded_at: "2026-10-12"
category: "Emerging Markets Active Growth"
category_rank: "1 of 9"
methodology: "https://etf.net/methodology"
---

# FFEM: Fidelity Covington Trust - Fidelity Fundamental Emerging Markets ETF

Grade **A**, Score 76 of 100. Rank 1 of 9 in Emerging Markets Active Growth.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 89 | 1 of 9 |
| Mission | Not scored | — |
| Risk | 63 | 1 of 9 |
| Tradability | 82 | 1 of 9 |
| Holdings | 57 | 4 of 9 |
| Durability | 64 | 4 of 9 |

## Top holdings

The fund holds 123 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | 2330.TW | Taiwan Semiconductor Mfg Co Lt | 18.20% |
| 2 | 005930.KS | Samsung Electronics Co Ltd | 8.57% |
| 3 | 000660.KS | Sk Hynix Inc | 6.57% |
| 4 | 0700.HK | Tencent Holdings Ltd | 4.38% |
| 5 | 2454.TW | Media Tek Inc | 3.22% |
| 6 | — | Securities Lending Cf | 2.26% |
| 7 | 9988.HK | Alibaba Group Holding Ltd | 1.92% |
| 8 | 0939.HK | China Construction Bank Corp H | 1.72% |
| 9 | HDB | Hdfc Bank Ltd Spon Adr | 1.63% |
| 10 | 2308.TW | Delta Electronics Ind Co Ltd | 1.50% |
| 11 | 0U8N.L | Credicorp Ltd (Usa) | 1.49% |
| 12 | ASX | Ase Tech Holding Co Spon Adr | 1.42% |
| 13 | IBN | Icici Bank Ltd Spons Adr | 1.34% |
| 14 | 1120.SR | Al Rajhi Banking &INVEST Corp | 1.32% |
| 15 | 2899.HK | Zijin Mining Group Co Ltd H | 1.20% |
| 16 | LT.BO | Larsen & Toubro Ltd | 1.17% |
| 17 | 300750.SZ | Contemporary Amperex Tec A | 1.14% |
| 18 | AMXB.MX | America Movil Sab De Cv Ser B | 1.08% |
| 19 | BBCA.JK | Bank Central Asia | 1.06% |
| 20 | PRIO3.SA | Prio SA | 1.02% |
| 21 | 2359.HK | Wuxi Apptec Co Ltd H | 0.99% |
| 22 | 81211.HK | Byd Company Ltd H | 0.97% |
| 23 | 3665.TW | Bizlink Holding Inc | 0.94% |
| 24 | BPAC11.SA | Banco Btg Pactual SA US(1CS) | 0.93% |
| 25 | NU | Nu Holdings Ltd/Cayman Islands | 0.89% |
| 26 | EUROB.AT | Eurobank SA | 0.88% |
| 27 | BHARTIARTL.BO | Bharti Airtel Limited | 0.86% |
| 28 | 2628.HK | China Life Ins Co Ltd H | 0.85% |
| 29 | 402340.KS | Sk Square Co Ltd | 0.83% |
| 30 | 3692.HK | Hansoh Pharmacetical Group | 0.81% |

Source: etf.net, https://etf.net/etf/FFEM. Please cite the page URL.