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Launched · SEC filings

Fidelity Yield Enhanced Equity ETF

FYEECboeFidelityA

$29.23−0.14 (−0.49%)

As of Nov 10, 2026, 11:24 AM ET

A74/ 100

Rank 7 of 51 in S&P 500 Option Income

A74/100Rank 7 of 51inS&P 500 Option Income
Intraday session: down, 24 prints from 29.37 to 29.23. Range 29.17 to 29.39. Use the arrow keys to read each point.29.2029.2529.3029.4010 AM12 PM2 PM4 PM
Expense ratio
0.28%*
Fund size
$320M
1Y total return
+13.8%
Yield · Last 12 months
9.30%
Holdings
183
Avg volume · 30D
118K sh
52W range
low $26.29high $30.52
Launched
Filings
SEC EDGAR

*After a fee waiver that ends May 31, 2027. Without it: 0.31%.

The ETF.net FYEE Grade

A

Score 74 out of 100

Category
S&P 500 Option Income⁠
Rank
7 of 51
Six-pillar profile for FYEE. Scores out of 100: Cost 89, Risk 38, Mission 100, Tradability 54, Holdings 60, Durability 57. Strongest: Mission (100). Weakest: Risk (38). Leans toward Mission.

Score 74 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A89 out of 100
    Rank 4 of 51

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 37

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D38 out of 100
    Rank 34 of 51

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C54 out of 100
    Rank 21 of 51

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B60 out of 100
    Rank 21 of 40

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B57 out of 100
    Rank 23 of 51

Our read on FYEE

ETF.net Research

In short

AFidelity's entry in the S&P 500 covered-call scrum: own the large-cap equity book, sell calls against it for income, and charge roughly half the fee of the typical fund in this crowd.

Stated mandate

The fund seeks equity-market exposure and capital appreciation while using a disciplined covered-call program to generate income.

Why people hold it

  • Fee of 0.31% against a cohort median of 0.60% for S&P 500 options-income funds. In a strategy where premium income is the whole point, less leakage to costs matters.
  • The mandate is equity first: capital appreciation and market exposure, with a disciplined covered-call program layered on for income rather than income chased at any cost.fidelity.com
  • Does exactly what its documents say it does, and sits in the top quartile of a crowded S&P 500 income group on our review.
  • Cheaper than the marquee names it competes with, including GPIX (0.35%), BALI (0.35%) and SPYI (0.68%).

Worth knowing

  • Covered calls swap upside for premium. When the S&P 500 runs hard, the calls written against the portfolio limit how much of that climb the fund keeps.fidelity.com
  • Income lands quarterly, not monthly, so the cash arrives in four larger drops rather than a steady drip.
  • Launched in 2024 and moderately traded, so the track record is short and spreads can run wider than the category's largest funds.

FYEE Performance

Launched Apr 9, 2024

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

Not enough history yet.Not enough history yet.Not enough history yet.
FYEE$11,384
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. FYEE $11,384. SPY $11,339. Use the arrow keys to read each point.$10,000$11,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 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 FYEE. Periods over one year show the average yearly return.
PeriodFYEE
Year to date+10.2%
1 month−2.8%
3 months−0.7%
1 year+13.8%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 FYEE
YearReturn barFYEE
2026 YTD+10.2%
2025+15.7%
2024+13.2%

History from Apr 11, 2024

FYEE in the news

FYEE 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 Nov 9, 2026.
9.30%Last 12 months
Payout per share
$2.73Last 12 months
Last payment
$0.56 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2024–2026

One bar per payment. 10 payments from 2024 to 2026 YTD. Jun 21, 2024 $0.45; Sep 20, 2024 $0.50; Dec 20, 2024 $0.51; Mar 21, 2025 $0.60; Jun 20, 2025 $0.52; Sep 19, 2025 $0.29; Dec 19, 2025 $0.62; Mar 20, 2026 $0.82; Jun 18, 2026 $0.73; Sep 18, 2026 $0.56. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Sep 18, 2026Sep 22, 2026$0.56
Jun 18, 2026Jun 23, 2026$0.73
Mar 20, 2026Mar 24, 2026$0.82
Dec 19, 2025Dec 23, 2025$0.62
Sep 19, 2025Sep 23, 2025$0.29
Jun 20, 2025Jun 24, 2025$0.52
Mar 21, 2025Mar 25, 2025$0.60
Dec 20, 2024Dec 24, 2024$0.51
Sep 20, 2024Sep 24, 2024$0.50
Jun 21, 2024Jun 25, 2024$0.45

$10,000 in FYEE 1 year ago paid $947 in dividends.

FYEE Risk

Risk pillarD38 out of 100Rank 34 of 51 in S&P 500 Option Income
How much the fund’s monthly returns vary, scaled to a year.
8.4%
Annualised · 30 months to Oct 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.
1.43
vs 3-month T-bills · 30 months to Oct 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.
−18.8%
30 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.
0.81
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.

FMP measures it over up to five years of monthly returns.

FYEE Cost

Compare FYEE and PEPS

Overpaying vs PEPS, cheapest in S&P 500 Option Income

$3,649

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FYEE 0.28%

    $5,755

  • PEPS 0.10% Cheapest

    $2,106

$10,000
30 years

Cost over time

  • FYEE 0.28%
  • PEPS 0.10%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530FYEE $5,755PEPS $2,106

Year by year

YearFYEEPEPSOverpaying
10$509$183$326
20$1,976$717$1,259
30$5,755$2,106$3,649
How the 0.28% is worked out

Full fee 0.31%− waiver 0.03%= you pay 0.28%

The waiver ends May 31, 2027. After that the fee is 0.31% unless Fidelity renews it. Source: prospectus, May 2026.

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