Summary
Fidelity Covington Trust - Fidelity Enhanced Emerging Markets ETF is an ETF - a fund traded on an exchange like a stock - run by Fidelity. Positions inside: 187. The ten largest make up 35% of the fund.
- Yearly costs
- 0.38%
- Fund size
- $201.8M
- Positions
- 187
- Dividend yield
- 0.76%
- Running since
- 2024
What speaks for it
- Costs of 0.38% a year are below the middle of comparable funds (0.44%).
What to watch
- 47% of the fund is in one sector (Technology).
- A young fund: it has been running only since 2024.
A fund has no Bulios Score and no Fair Price of its own - both are computed from the results of a single company. This page shows what is inside the fund and what it costs instead.
Price
Performance
- 1 month
- -9.2%
- 3 months
- -5.2%
- This year
- +17%
- 1 year
- +19%
- Avg. market cap
- $660.1B
- P/E
- 13.1x
- Forward P/E
- 11.2x
- P/S
- 1.8x
- P/B
- 2.6x
- P/FCF
- 14.5x
- EV/EBITDA
- 9.0x
- Dividend yield
- 1.25%
- ROIC
- 18.2%
- ROE
- 31.7%
- Gross margin
- 50.5%
- Operating margin
- 37.1%
- Net margin
- 11.6%
- Payout ratio
- 16.3%
- Net debt/EBITDA
- 0.1x
- Beta
- 1.06
Weighted average of the 50 largest companies, which make up 66% of the fund. Banks and insurers are left out of the gross margin, the ROIC and the EBITDA figures.
What is inside?
Moderately concentrated- 1 23Taiwan Semiconductor Manufacturing Company Limited 2330.TW 15%
- 2 00Samsung Electronics Co., Ltd. 005930.KS 5.4%
- 3 00SK hynix Inc. 000660.KS 3.4%
- 4 24MediaTek Inc. 2454.TW 2.1%
- 5 07Tencent Holdings Limited 0700.HK 2.1%
- 6 CASH CF 1.7%
- 7 PBPetróleo Brasileiro PBR 1.6%
- 8 23Hon Hai Precision Industry Co., Ltd. 2317.TW 1.4%
- 9 13Nan Ya Plastics Corporation 1303.TW 1.4%
- 10 NUNu NU 1.3%
Positions in the fund: 187. The ten largest make up 35% of it.
Composition as of Oct 18, 2026.
Where is it spread?
One sector dominatesBy sector
- Technology 47%
- Financials 16%
- Industrials 6.4%
- Energy 6.4%
- Healthcare 5.8%
- Other 18%
By country
- Taiwan 32%
- China 21%
- South Korea 17%
- India 8.1%
- Other countries 23%
By company size
- Mega cap 38%
- Large cap 55%
- Mid cap 7.1%
By the company's market value: Mega cap from $200B, Large cap from $10B, Mid cap from $2B, Small cap from $300M, Micro cap below $300M.
Largest sector: Technology (47%). Largest country: Taiwan (32%). Largest size group: Large cap (55%).
What does it cost me?
Cheap- A year from $10,000
- $38.00
- Over 20 years
- $1,856
From every $10,000 invested the fund takes $38.00 a year. You do not pay it separately - it is taken out of the fund's value. Over 20 years at 5% yearly growth that adds up to about $1,856.
How has it done?
Growing over the long run- Over the last year
- +19%
- Deepest drop
- -16%
- Yearly volatility
- 26%
Growth over the last year: 19%. Deepest drop in these years: 16% below the earlier high.
Does it pay dividends?
Yes, it pays out- Yield
- 0.76%
- Last payment
- $0.29
Over the last 12 months it paid $0.29 per share, which is 0.76% of today's price. The last payment was $0.29 on Sep 18, 2026.
Is it easy to buy and sell?
Yes- Traded a day
- $1.65M
- Shares a day
- 43K
On an average day about $1.65M of the fund changes hands.
How expensive are the companies inside?
Rather cheap- P/E of the companies inside
- 13.1
- Average Bulios Score
- 73 out of 100
Weight by Bulios Fair Price
- Undervalued 21%
- Fairly valued 10%
- Overvalued 68%
On average the companies inside trade for 13.1 times their yearly profit. By Fair Price, 68% of the rated weight comes out as overvalued.
Counted from its largest companies (50), which make up 66% of the fund. Each company counts by its weight. We use the metrics, the Bulios Score and the Fair Price of the companies themselves.
Similar funds
Funds that hold much of the same. The overlap says how much of their weight they share with this fund.
| Fund | Domicile | Size | 1-year change | Dividends | ||
|---|---|---|---|---|---|---|
EL EL40.DE Deka MSCI Emerging Markets UCITS ETF | Germany | 0.40% | $335.2M | +24% | Reinvests | 47% |
SP SPYM.DE State Street SPDR MSCI Emerging Markets UCITS ETF | Ireland | 0.18% | $2.16B | +23% | Reinvests | 47% |
ES ESGE iShares ESG Aware MSCI EM ETF | United States | 0.25% | $6.45B | +17% | Pays out | 47% |
UI UIMI.DE UBS Core MSCI EM UCITS ETF USD dis | Luxembourg | 0.15% | $11.9B | +21% | Pays out | 47% |
XM XMME.DE Xtrackers MSCI Emerging Markets UCITS ETF 1C | Ireland | 0.18% | $14.4B | +23% | Reinvests | 47% |
DB DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF | United States | 0.66% | $104.8M | +17% | Pays out | 47% |