Fidelity Limited Term Bond ETF

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  • Oct. 9, 2014, 1:31 PM
    • The Fidelity Total Bond ETF (Pending:FBND), the Fidelity Limited Term Bond ETF (Pending:FLTB) and the Fidelity Corporate Bond ETF (Pending:FCOR), the first actively managed bond exchange-traded funds from Fidelity Investments, began trading this morning.
    • Fidelity's timing could not have been better, with many investors, shaken by Bill Gross's departure from PIMCO, may be searching the market for new investment options.
    • “I would say the timing of our launch is fortunate; however, this is part of a really well-thought-out long-term strategy around ETFs,” said Scott E. Couto, president of Fidelity Financial Advisor Solutions.
    • Other total market ETFs: AGG, BOND, BND, SCHZ, LAG, SAGG, GBF, IUSB
    • Other short term ETFs: BSV, ISTB, MINC
    • Other corporate bond ETFs: LQD, CORP, CRED, QLTA, IGS, COBO, CBND, QLTB, IGU
    | Oct. 9, 2014, 1:31 PM | 1 Comment
FLTB Description
The fund seeks to provide a high rate of income. - Normally investing at least 80% of assets in investment-grade debt securities (those of medium and high quality) of all types and repurchase agreements for those securities. - Managing the fund to have similar overall interest rate risk to the Fidelity Limited Term Composite IndexSM. - Normally maintaining a dollar-weighted average maturity between two and five years. - Allocating assets across different market sectors and maturities. - Investing in domestic and foreign issuers. - Analyzing the credit quality of the issuer, security-specific features, current and potential future valuation, and trading opportunities to select investments. - Potentially investing in lower-quality debt securities. - Engaging in transactions that have a leveraging effect on the fund, including investments in derivatives - such as swaps (interest rate, total return, and credit default), options, and futures contracts - and forward-settling securities, to adjust the fund's risk exposure.
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