Form of Certification required from Principal Executive Officer and Principal Financial Officer in connection with each Form N

Fidelity® International High Dividend ETF

Fidelity® International Multifactor ETF

Fidelity® International Value Factor ETF

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

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NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

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Fidelity® Emerging Markets Multifactor ETF

Schedule of Investments April 30, 2024 (Unaudited) Showing Percentage of Net Assets

Top Holdings (% of Fund's net assets)

Tencent Holdings Ltd. (China, Interactive Media & Services)	4.2
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals)	3.6
Longfor Properties Co. Ltd. (China, Real Estate Management & Development)	2.1
Emaar Properties PJSC (United Arab Emirates, Real Estate Management & Development)	1.7
Yuhan Corp. (Korea (South), Pharmaceuticals)	1.7
Terrafina (Mexico, Equity Real Estate Investment Trusts (REITs))	1.7
Dr. Reddy's Laboratories Ltd. (India, Pharmaceuticals)	1.4
Alibaba Group Holding Ltd. (China, Broadline Retail)	1.4
Aurobindo Pharma Ltd. (India, Pharmaceuticals)	1.4
PetroChina Co. Ltd. (H Shares) (China, Oil, Gas & Consumable Fuels)	1.3
	20.5

Market Sectors (% of Fund's net assets)

Financials	20.1
Information Technology	18.0
Communication Services	12.8
Energy	11.0
Consumer Staples	8.7
Consumer Discretionary	8.4
Health Care	8.0
Real Estate	6.7
Industrials	2.9
Materials	2.8
Utilities	0.1

Asset Allocation (% of Fund's net assets)

Futures - 0.4%

Geographic Diversification (% of Fund's net assets)

* Includes Short-Term investments and Net Other Assets (Liabilities).

Percentages are adjusted for the effect of derivatives, if applicable.

Fidelity® Emerging Markets Multifactor ETF

Common Stocks - 98.9%
	Shares	Value ($)
Brazil - 2.0%
Banco do Brasil SA	51,600	272,978
BB Seguridade Participacoes SA	31,900	198,179
Caixa Seguridade Participacoes	69,400	209,682
TIM SA	92,400	313,936
Vale SA	16,300	199,037
TOTAL BRAZIL		1,193,812
Chile - 0.4%
Banco de Chile	1,959,723	218,294
China - 26.5%
Agricultural Bank of China Ltd. (H Shares)	549,000	246,380
Alibaba Group Holding Ltd.	85,800	815,633
Anta Sports Products Ltd.	14,600	167,445
Autohome, Inc. ADR Class A	12,879	330,990
Baidu, Inc. Class A (a)	36,500	488,614
Bank of China Ltd. (H Shares)	855,000	385,893
Bank of Communications Co. Ltd. (H Shares)	318,000	230,128
Bosideng International Holdings Ltd.	170,000	98,463
Brilliance China Automotive Holdings Ltd.	140,000	117,066
China CITIC Bank Corp. Ltd. (H Shares)	243,000	142,919
China Construction Bank Corp. (H Shares)	810,000	528,180
China Railway Group Ltd. (H Shares)	175,000	86,815
China Resources Pharmaceutical Group Ltd. (b)	1,080,000	701,478
China Shenhua Energy Co. Ltd. (H Shares)	152,000	635,504
China Tower Corp. Ltd. (H Shares) (b)	2,568,000	302,071
China Vanke Co. Ltd. (H Shares)	1,165,500	689,954
CITIC Pacific Ltd.	93,000	88,824
Fuyao Glass Industries Group Co. Ltd. (H Shares) (b)	19,200	115,501
Haier Smart Home Co. Ltd.	39,600	148,097
Hengan International Group Co. Ltd.	142,500	481,000
Industrial & Commercial Bank of China Ltd. (H Shares)	733,000	396,434
Inner Mongolia Yitai Coal Co. Ltd. (B Shares)	240,237	467,982
JD.com, Inc. Class A	19,150	281,085
Jiangxi Copper Co. Ltd. (H Shares)	76,000	156,447
Kingboard Chemical Holdings Ltd.	83,500	184,483
Lenovo Group Ltd.	182,000	207,802
Longfor Properties Co. Ltd. (b)	826,000	1,246,203
MINISO Group Holding Ltd. ADR	3,642	81,836
NetEase, Inc.	26,000	499,642
PDD Holdings, Inc. ADR (a)	4,036	505,226
People's Insurance Co. of China Group Ltd. (H Shares)	340,000	112,157
PetroChina Co. Ltd. (H Shares)	828,000	781,292
PICC Property & Casualty Co. Ltd. (H Shares)	116,000	144,904
Pop Mart International Group Ltd. (b)	33,600	145,635
Sinopharm Group Co. Ltd. (H Shares)	260,400	660,555
Tencent Holdings Ltd.	56,400	2,503,726
Topsports International Holdings Ltd. (b)	118,000	82,376
Trip.com Group Ltd. (a)	4,800	236,526
Vipshop Holdings Ltd. ADR	4,579	68,868
Yangzijiang Shipbuilding Holdings Ltd.	54,200	69,948
Yum China Holdings, Inc.	3,613	131,911
TOTAL CHINA		15,765,993
Egypt - 0.2%
Commercial International Bank SAE	97,875	147,068
Greece - 0.6%
Jumbo SA	6,150	191,884
OPAP SA	10,069	168,062
TOTAL GREECE		359,946
Hong Kong - 1.0%
WH Group Ltd. (b)	795,500	581,785
Hungary - 2.1%
MOL Hungarian Oil and Gas PLC Series A (For. Reg.)	68,617	564,988
Richter Gedeon PLC	27,351	698,814
TOTAL HUNGARY		1,263,802
India - 16.8%
Angel One Ltd.	5,378	179,614
Asian Paints Ltd.	4,036	139,114
Aurobindo Pharma Ltd.	58,087	803,048
Bajaj Auto Ltd.	2,240	239,035
Bank of Baroda	73,419	247,703
Bharat Electronics Ltd.	58,562	164,064
Canara Bank Ltd.	36,388	271,243
Coal India Ltd.	108,377	590,099
Dr. Reddy's Laboratories Ltd.	10,971	815,801
Eicher Motors Ltd.	4,409	242,939
Federal Bank Ltd.	128,106	249,652
HCL Technologies Ltd.	9,386	153,733
HDFC Asset Management Co. Ltd. (b)	5,436	253,742
HDFC Standard Life Insurance Co. Ltd. (b)	36,160	252,945
Hero Motocorp Ltd.	3,834	208,759
Hindustan Aeronautics Ltd.	3,475	164,068
Hindustan Unilever Ltd.	21,809	583,007
Infosys Ltd.	25,745	438,323
ITC Ltd.	105,855	552,706
L&T Finance Ltd.	104,627	208,975
Motherson Sumi Wiring India Ltd.	214,928	177,870
NMDC Ltd.	37,164	113,314
Oil & Natural Gas Corp. Ltd.	179,225	607,575
Oil India Ltd.	86,872	645,687
Oracle Financial Services Soft	758	69,032
Pidilite Industries Ltd.	3,497	127,790
Polycab India Ltd.	2,154	146,288
Power Finance Corp. Ltd.	47,935	253,675
REC Ltd.	42,747	259,829
State Bank of India	38,272	378,999
Tata Consultancy Services Ltd.	7,704	352,776
Wipro Ltd.	17,465	96,790
TOTAL INDIA		9,988,195
Indonesia - 4.1%
PT Adaro Energy Indonesia Tbk	2,995,600	499,267
PT Astra International Tbk	242,600	76,838
PT Bank Central Asia Tbk	601,900	362,769
PT Bank Mandiri (Persero) Tbk	643,400	273,030
PT Indah Kiat Pulp & Paper Tbk	54,400	31,365
PT Indofood Sukses Makmur Tbk	1,119,600	430,351
PT Telkom Indonesia Persero Tbk	1,322,800	257,889
PT United Tractors Tbk	318,000	485,507
TOTAL INDONESIA		2,417,016
Korea (South) - 11.5%
Cosmo AM&T Co. Ltd. (a)	151	16,585
DB HiTek Co. Ltd.	246	7,369
Db Insurance Co. Ltd.	2,957	208,173
Doosan Bobcat, Inc.	2,461	92,949
GS Holdings Corp.	2,408	78,228
Hankook Tire Co. Ltd.	3,124	133,585
Hanmi Semiconductor Co. Ltd.	350	34,187
Hanwha Corp.	3,950	78,165
Hyundai Marine & Fire Insurance Co. Ltd.	7,224	163,600
Hyundai Mobis	978	161,691
Hyundai Steel Co.	1,534	35,905
Kia Corp.	2,670	227,957
KT&G Corp.	7,085	458,287
Kumho Petro Chemical Co. Ltd.	397	39,697
Leeno Industrial, Inc.	63	11,441
LG Corp.	1,648	94,676
LG Display Co. Ltd. (a)	1,970	15,023
LG Innotek Co. Ltd.	89	14,296
LG Uplus Corp.	32,523	231,786
NCSOFT Corp.	1,735	221,065
Orion Corp./Republic of Korea	6,550	440,268
POSCO	340	99,631
POSCO ICT Co. Ltd.	338	9,966
Samsung Electro-Mechanics Co. Ltd.	372	41,961
Samsung Electronics Co. Ltd.	37,958	2,128,460
Samsung SDI Co. Ltd.	347	108,963
Samsung SDS Co. Ltd.	257	29,770
SK Hynix, Inc.	3,523	444,039
Woori Financial Group, Inc.	21,264	218,933
Yuhan Corp.	19,130	1,002,107
TOTAL KOREA (SOUTH)		6,848,763
Malaysia - 0.9%
Malayan Banking Bhd	121,900	248,525
Petronas Chemicals Group Bhd	24,700	35,090
TIME dotCom Bhd	216,200	233,754
TOTAL MALAYSIA		517,369
Mexico - 4.4%
Arca Continental S.A.B. de CV	49,300	483,553
El Puerto de Liverpool S.A.B. Dcv Series C	7,900	63,372
Grupo Aeroportuario del Sureste S.A.B. de CV Series B	3,300	113,970
Grupo Aeroportuario Norte S.A.B. de CV	9,500	105,747
Kimberly-Clark de Mexico SA de CV Series A	245,200	513,181
Promotora y Operadora de Infraestructura S.A.B. de CV	8,655	87,416
Qualitas Controladora S.A.B. de CV	18,500	243,236
Terrafina	403,800	998,213
TOTAL MEXICO		2,608,688
Qatar - 0.2%
Mesaieed Petrochemical Holding Co.	172,854	91,103
Russia - 0.1%
Gazprom OAO (a)(c)	14,450	1,505
Inter Rao Ues JSC (a)(c)	7,348,600	40,330
MMC Norilsk Nickel PJSC (a)(c)	18,800	1,245
Sberbank of Russia (a)(c)	38,410	235
Surgutneftegas OJSC (a)(c)	56,600	689
VTB Bank OJSC (a)(c)	91,900,000	3,495
TOTAL RUSSIA		47,499
Saudi Arabia - 2.7%
Al Rajhi Bank	16,189	344,878
Bupa Arabia for Cooperative Insurance Co.	1,525	98,072
Elm Co.	715	174,356
Luberef	2,020	81,649
Sabic Agriculture-Nutrients Co.	2,904	89,661
Saudi Telecom Co.	47,511	476,934
The Co. for Cooperative Insurance	2,713	107,779
The Saudi National Bank	26,095	261,604
TOTAL SAUDI ARABIA		1,634,933
South Africa - 1.8%
Exxaro Resources Ltd.	55,407	532,460
Kumba Iron Ore Ltd.	2,572	63,293
Momentum Metropolitan Holdings	192,636	210,783
Standard Bank Group Ltd.	28,377	266,796
TOTAL SOUTH AFRICA		1,073,332
Taiwan - 14.9%
Accton Technology Corp.	14,000	198,421
ASE Technology Holding Co. Ltd.	67,000	304,527
ASPEED Tech, Inc.	2,000	189,485
Catcher Technology Co. Ltd.	35,000	234,322
Chicony Electronics Co. Ltd.	41,000	254,975
Chipbond Technology Corp.	88,000	205,663
Chunghwa Telecom Co. Ltd.	93,000	354,155
Compal Electronics, Inc.	192,000	211,093
Elan Microelectronics Corp.	42,000	212,180
Far Eastern International Bank	485,000	228,633
Far Eastern New Century Corp.	154,000	153,707
Far EasTone Telecommunications Co. Ltd.	106,000	263,031
Formosa Plastics Corp.	46,000	96,769
Foxconn Technology Co. Ltd.	125,000	236,472
Getac Holdings Corp.	60,000	193,477
Gold Circuit Electronics Ltd.	28,000	169,400
International Games Systems Co. Ltd.	10,000	307,106
Jentech Precision Industrial Co. Ltd.	9,000	270,039
King Slide Works Co. Ltd.	6,000	226,645
King Yuan Electronics Co. Ltd.	80,000	235,366
Largan Precision Co. Ltd.	3,000	201,308
Lite-On Technology Corp.	69,000	211,903
MediaTek, Inc.	17,000	517,904
Micro-Star International Co. Ltd.	37,000	181,239
MiTAC Holdings Corp.	140,000	195,197
Novatek Microelectronics Corp.	15,000	284,688
Pegatron Corp.	85,000	255,037
Pou Chen Corp.	178,000	197,614
Radiant Opto-Electronics Corp.	47,000	287,237
Realtek Semiconductor Corp.	16,000	254,530
Simplo Technology Co. Ltd.	17,000	228,671
Sinopac Financial Holdings Co.	374,000	252,113
Taichung Commercial Bank Co. Ltd.	391,305	212,705
Taiwan Cooperative Financial Holding Co. Ltd.	288,550	232,173
Taiwan Fertilizer Co. Ltd.	36,000	72,305
Tripod Technology Corp.	34,000	206,222
Wiwynn Corp.	3,000	217,431
Yuanta Financial Holding Co. Ltd.	292,000	274,854
TOTAL TAIWAN		8,828,597
Thailand - 1.1%
Advanced Information Service PCL NVDR	47,300	252,071
Intouch Holdings PCL NVDR	123,900	223,996
Krung Thai Bank PCL NVDR	343,200	155,579
TOTAL THAILAND		631,646
Turkey - 5.3%
Akbank TAS	191,117	350,931
Bim Birlesik Magazalar A/S JSC	54,099	646,652
Haci Omer Sabanci Holding A/S	101,767	290,121
Koc Holding A/S	19,681	137,441
Turkcell Iletisim Hizmet A/S	169,918	424,054
Turkiye Is Bankasi A/S Series C	718,134	304,098
Turkiye Petrol Rafinerileri A/S	112,471	680,179
Yapi ve Kredi Bankasi A/S	323,249	322,286
TOTAL TURKEY		3,155,762
United Arab Emirates - 2.3%
Abu Dhabi Islamic Bank	83,568	253,919
Emaar Properties PJSC	459,308	1,026,687
Salik Co. PJSC	96,906	91,289
TOTAL UNITED ARAB EMIRATES		1,371,895
TOTAL COMMON STOCKS (Cost $55,189,570)		58,745,498

Nonconvertible Preferred Stocks - 0.6%
	Shares	Value ($)
Brazil - 0.6%
Bradespar SA (PN)	14,700	56,524
Itausa-Investimentos Itau SA (PN)	131,029	241,677
Metalurgica Gerdau SA (PN)	33,700	68,790
TOTAL BRAZIL		366,991
Russia - 0.0%
AK Transneft OAO (a)(c)	1,200	3,466
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $403,978)		370,457

Money Market Funds - 0.3%
	Shares	Value ($)
Fidelity Cash Central Fund 5.39% (d) (Cost $151,076)	151,045	151,076

TOTAL INVESTMENT IN SECURITIES - 99.8% (Cost $55,744,624)	59,267,031
NET OTHER ASSETS (LIABILITIES) - 0.2%	122,119
NET ASSETS - 100.0%	59,389,150

Futures Contracts
	Number of contracts	Expiration Date	Notional Amount ($)	Value ($)	Unrealized Appreciation/ (Depreciation) ($)
Purchased

Equity Index Contracts
ICE MSCI Emerging Markets Index Contracts (United States)	5	Jun 2024	260,500	1,216	1,216

The notional amount of futures purchased as a percentage of Net Assets is 0.4%

Legend

(a)	Non-income producing

(b)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $3,681,736 or 6.2% of net assets.

(c)	Level 3 security

(d)

Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Affiliate	Value, beginning of period ($)	Purchases ($)	Sales Proceeds ($)	Dividend Income ($)	Realized Gain (loss) ($)	Change in Unrealized appreciation (depreciation) ($)	Value, end of period ($)	% ownership, end of period
Fidelity Cash Central Fund 5.39%	-	6,540,074	6,389,051	4,832	53	-	151,076	0.0%
Total	-	6,540,074	6,389,051	4,832	53	-	151,076

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

Investment Valuation

The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

Valuation Inputs at Reporting Date:
Description	Total ($)	Level 1 ($)	Level 2 ($)	Level 3 ($)
Investments in Securities:

Equities:
Communication Services	7,684,820	7,684,820	-	-
Consumer Discretionary	5,008,436	5,008,436	-	-
Consumer Staples	5,170,790	5,170,790	-	-
Energy	6,496,200	6,490,540	-	5,660
Financials	11,920,570	11,916,840	-	3,730
Health Care	4,681,803	4,681,803	-	-
Industrials	1,830,433	1,830,433	-	-
Information Technology	10,722,787	10,722,787	-	-
Materials	1,598,729	1,597,484	-	1,245
Real Estate	3,961,057	3,961,057	-	-
Utilities	40,330	-	-	40,330

Money Market Funds	151,076	151,076	-	-
Total Investments in Securities:	59,267,031	59,216,066	-	50,965
Derivative Instruments: Assets
Futures Contracts	1,216	1,216	-	-
Total Assets	1,216	1,216	-	-
Total Derivative Instruments:	1,216	1,216	-	-

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type	Value
	Asset ($)	Liability ($)
Equity Risk
Futures Contracts (a)	1,216	0
Total Equity Risk	1,216	0
Total Value of Derivatives	1,216	0

(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

Fidelity® Emerging Markets Multifactor ETF

Financial Statements(Unaudited)

Statement of Assets and Liabilities
				April 30, 2024 (Unaudited)

Assets
Investment in securities, at value - See accompanying schedule:
Unaffiliated issuers (cost $55,593,548)	$	59,115,955
Fidelity Central Funds (cost $151,076)		151,076


Total Investment in Securities (cost $55,744,624)			$	59,267,031
Segregated cash with brokers for derivative instruments				22,513
Foreign currency held at value (cost $196,744)				184,052
Dividends receivable				113,556
Distributions receivable from Fidelity Central Funds				1,912
Total assets				59,589,064
Liabilities
Accrued management fee	$	11,972
Payable for daily variation margin on futures contracts		3,152
Deferred taxes		184,755
Other payables and accrued expenses		35
Total liabilities				199,914
Net Assets			$	59,389,150
Net Assets consist of:
Paid in capital			$	59,227,603
Total accumulated earnings (loss)				161,547
Net Assets			$	59,389,150
Net Asset Value, offering price and redemption price per share ($59,389,150 ÷ 2,400,000 shares)			$	24.75

Statement of Operations
				Six months ended April 30, 2024 (Unaudited)
Investment Income
Dividends			$	732,360
Income from Fidelity Central Funds				4,832
Income before foreign taxes withheld			$	737,192
Less foreign taxes withheld				(94,858)
Total income				642,334
Expenses
Management fee	$	48,446
Independent trustees' fees and expenses		80
Total expenses before reductions		48,526
Expense reductions		(277)
Total expenses after reductions				48,249
Net Investment income (loss)				594,085
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Unaffiliated issuers (net of foreign taxes of $174,472)		314,307
Fidelity Central Funds		53
Foreign currency transactions		(50,244)
Futures contracts		16,025
Total net realized gain (loss)				280,141
Change in net unrealized appreciation (depreciation) on:
Investment Securities:
Unaffiliated issuers (net of increase in deferred foreign taxes of $93,164)		4,109,624
Assets and liabilities in foreign currencies		(2,422)
Futures contracts		1,978
Total change in net unrealized appreciation (depreciation)				4,109,180
Net gain (loss)				4,389,321
Net increase (decrease) in net assets resulting from operations			$	4,983,406

Statement of Changes in Net Assets

		Six months ended April 30, 2024 (Unaudited)		Year ended October 31, 2023
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	594,085	$	1,033,942
Net realized gain (loss)		280,141		(1,236,537)
Change in net unrealized appreciation (depreciation)		4,109,180		3,102,891
Net increase (decrease) in net assets resulting from operations		4,983,406		2,900,296
Distributions to shareholders		(379,400)		(1,198,769)
Distributions to shareholders from tax return of capital		-		(11,231)

Total Distributions		(379,400)		(1,210,000)
Share transactions
Proceeds from sales of shares		29,142,414		4,445,155

Net increase (decrease) in net assets resulting from share transactions		29,142,414		4,445,155
Total increase (decrease) in net assets		33,746,420		6,135,451

Net Assets
Beginning of period		25,642,730		19,507,279
End of period	$	59,389,150	$	25,642,730

Other Information
Shares
Sold		1,200,000		200,000
Net increase (decrease)		1,200,000		200,000

Financial Highlights

Fidelity® Emerging Markets Multifactor ETF

		Six months ended (Unaudited) April 30, 2024		Years ended October 31, 2023		2022		2021		2020		2019 A
Selected Per-Share Data
Net asset value, beginning of period	$	21.37	$	19.51	$	25.88	$	23.12	$	24.68	$	25.00
Income from Investment Operations
Net investment income (loss) B,C		.36		.95		.89		.72		.55		.50
Net realized and unrealized gain (loss)		3.27		1.96		(6.37)		2.67		(1.57)		(.34)
Total from investment operations		3.63		2.91		(5.48)		3.39		(1.02)		.16
Distributions from net investment income		(.25)		(1.04)		(.86)		(.63)		(.54)		(.48)
Distributions from tax return of capital		-		(.01)		(.03)		-		-		-
Total distributions		(.25)		(1.05)		(.89)		(.63)		(.54)		(.48)
Net asset value, end of period	$	24.75	$	21.37	$	19.51	$	25.88	$	23.12	$	24.68
Total Return D,E,F		17.04 %		14.76%		(21.56)%		14.55%		(4.03)%		.66%
Ratios to Average Net Assets C,G,H
Expenses before reductions		.25% I		.45%		.45%		.45%		.45%		.45% I
Expenses net of fee waivers, if any		.25 % I		.45%		.45%		.45%		.45%		.45% I
Expenses net of all reductions		.25% I		.45%		.45%		.45%		.45%		.45% I
Net investment income (loss)		3.05% I		4.29%		3.84%		2.64%		2.39%		3.05% I
Supplemental Data
Net assets, end of period (000 omitted)	$	59,389	$	25,643	$	19,507	$	20,703	$	9,249	$	9,872
Portfolio turnover rate J		57 % I,K		82% K		91% K		65% K		66%		34% K,L

AFor the period February 26, 2019 (commencement of operations) through October 31, 2019.

BCalculated based on average shares outstanding during the period.

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

DTotal returns for periods of less than one year are not annualized.

ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

FBased on net asset value.

GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

IAnnualized.

JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

KPortfolio turnover rate excludes securities received or delivered in-kind.

LAmount not annualized.

Fidelity® International High Dividend ETF

Schedule of Investments April 30, 2024 (Unaudited) Showing Percentage of Net Assets

Top Holdings (% of Fund's net assets)

Engie SA (France, Multi-Utilities)	3.0
Telefonica SA (Spain, Diversified Telecommunication Services)	3.0
TotalEnergies SE (France, Oil, Gas & Consumable Fuels)	3.0
SoftBank Corp. (Japan, Wireless Telecommunication Services)	2.9
Enel SpA (Italy, Electric Utilities)	2.8
Vodafone Group PLC (United Kingdom, Wireless Telecommunication Services)	2.6
Hong Kong & China Gas Co. Ltd. (Hong Kong, Gas Utilities)	2.5
Glencore PLC (Australia, Metals & Mining)	2.4
Enbridge, Inc. (Canada, Oil, Gas & Consumable Fuels)	2.2
Tourmaline Oil Corp. (Canada, Oil, Gas & Consumable Fuels)	2.2
	26.6

Market Sectors (% of Fund's net assets)

Financials	28.0
Materials	14.4
Energy	12.8
Utilities	10.3
Communication Services	10.3
Industrials	10.3
Consumer Discretionary	4.7
Health Care	4.2
Information Technology	2.3
Consumer Staples	1.7

Asset Allocation (% of Fund's net assets)

Futures - 0.9%

Geographic Diversification (% of Fund's net assets)

* Includes Short-Term investments and Net Other Assets (Liabilities).

Percentages are adjusted for the effect of derivatives, if applicable.

Fidelity® International High Dividend ETF

Common Stocks - 99.1%
	Shares	Value ($)
Australia - 10.7%
ANZ Group Holdings Ltd.	76,572	1,400,172
BHP Group Ltd.	63,601	1,777,109
Brambles Ltd.	16,640	157,972
Glencore PLC	395,160	2,314,178
IGO Ltd.	251,988	1,294,301
Sonic Healthcare Ltd.	13,390	232,760
Wesfarmers Ltd.	5,600	242,872
Westpac Banking Corp.	87,239	1,470,599
Woodside Energy Group Ltd.	77,177	1,414,743
TOTAL AUSTRALIA		10,304,706
Austria - 2.0%
OMV AG	41,076	1,962,369
Brazil - 1.4%
Yara International ASA	47,161	1,352,123
Canada - 16.0%
Bank of Nova Scotia	21,818	1,003,039
BCE, Inc.	52,172	1,717,611
Canadian Imperial Bank of Commerce	21,314	996,934
Canadian National Railway Co.	4,355	529,663
Canadian Tire Ltd. Class A (non-vtg.)	1,358	131,456
Emera, Inc.	55,611	1,879,404
Enbridge, Inc.	60,390	2,151,684
Nutrien Ltd.	34,897	1,843,850
Royal Bank of Canada	14,627	1,418,037
The Toronto-Dominion Bank	21,499	1,278,031
Thomson Reuters Corp.	2,601	393,657
Tourmaline Oil Corp.	42,829	2,097,416
TOTAL CANADA		15,440,782
China - 0.2%
Wilmar International Ltd.	65,200	154,424
Denmark - 1.3%
A.P. Moller - Maersk A/S Series B	240	350,606
Novo Nordisk A/S Series B	7,167	927,399
Svitzer A/S	480	16,161
TOTAL DENMARK		1,294,166
Finland - 3.3%
Kesko Oyj	6,104	104,623
Kone OYJ (B Shares)	9,121	446,670
Nokia Corp.	36,080	131,611
Nordea Bank Abp	110,588	1,295,713
Sampo Oyj (A Shares)	29,361	1,190,470
TOTAL FINLAND		3,169,087
France - 10.4%
BNP Paribas SA	21,138	1,528,108
Bouygues SA	11,929	441,453
Capgemini SA	673	142,410
Compagnie Generale des Etablissements Michelin SCA Series B	7,873	304,571
Engie SA	167,860	2,920,209
EssilorLuxottica SA	969	208,050
LVMH Moet Hennessy Louis Vuitton SE	786	650,829
Rexel SA	16,245	424,348
TotalEnergies SE	38,931	2,855,194
VINCI SA	4,864	573,392
TOTAL FRANCE		10,048,564
Germany - 3.9%
BASF AG	37,090	1,949,413
Bayer AG	4,505	131,744
Bayerische Motoren Werke AG (BMW)	2,716	297,523
DHL Group	17,376	729,423
Fresenius SE & Co. KGaA	3,598	107,605
Infineon Technologies AG	4,609	161,250
Mercedes-Benz Group AG (Germany)	4,762	361,210
TOTAL GERMANY		3,738,168
Hong Kong - 2.9%
ASMPT Ltd.	29,500	371,145
Hong Kong & China Gas Co. Ltd.	3,175,000	2,423,509
TOTAL HONG KONG		2,794,654
Italy - 4.2%
Enel SpA	415,423	2,745,545
Mediobanca SpA	90,978	1,298,664
TOTAL ITALY		4,044,209
Japan - 15.8%
Astellas Pharma, Inc.	26,700	256,879
Canon, Inc.	8,900	242,061
Isuzu Motors Ltd.	21,200	269,370
Japan Tobacco, Inc.	10,700	288,638
Kawasaki Kisen Kaisha Ltd.	34,200	480,515
Mitsubishi Corp.	42,600	979,964
Mitsui & Co. Ltd.	17,100	830,089
Mitsui OSK Lines Ltd.	15,300	485,159
Mizuho Financial Group, Inc.	67,500	1,309,122
Nippon Steel & Sumitomo Metal Corp.	82,000	1,845,150
Nippon Yusen KK	16,300	462,592
Niterra Co. Ltd.	10,600	348,382
Sekisui House Ltd.	13,700	315,675
SoftBank Corp.	227,700	2,765,130
Sumco Corp.	14,100	213,608
Sumitomo Mitsui Financial Group, Inc.	25,800	1,472,271
Sumitomo Mitsui Trust Holdings, Inc.	53,200	1,121,708
Takeda Pharmaceutical Co. Ltd.	12,200	321,969
Tokyo Electron Ltd.	1,700	379,398
Toyota Motor Corp.	39,135	904,732
TOTAL JAPAN		15,292,412
Netherlands - 2.2%
ABN AMRO Bank NV:
GDR (Bearer) (a)	81,583	1,316,340
rights (b)(c)	81,583	77,637
ASML Holding NV (Netherlands)	647	576,066
Koninklijke Ahold Delhaize NV	5,098	155,027
TOTAL NETHERLANDS		2,125,070
Norway - 3.7%
Equinor ASA	67,310	1,817,054
Mowi ASA	6,771	119,809
Norsk Hydro ASA	269,989	1,679,790
TOTAL NORWAY		3,616,653
Singapore - 1.8%
Oversea-Chinese Banking Corp. Ltd.	171,200	1,788,891
Spain - 4.7%
Banco Bilbao Vizcaya Argentaria SA	150,303	1,635,239
Telefonica SA	638,481	2,871,419
TOTAL SPAIN		4,506,658
Sweden - 2.0%
Svenska Handelsbanken AB (A Shares)	113,996	998,928
Telefonaktiebolaget LM Ericsson (B Shares)	23,263	119,156
Volvo AB (B Shares)	31,855	822,503
TOTAL SWEDEN		1,940,587
Switzerland - 2.4%
Kuehne & Nagel International AG	1,591	422,752
Novartis AG	4,911	476,830
Zurich Insurance Group Ltd.	2,987	1,446,683
TOTAL SWITZERLAND		2,346,265
United Kingdom - 8.5%
AstraZeneca PLC (United Kingdom)	3,706	559,733
BAE Systems PLC	39,124	653,025
British American Tobacco PLC (United Kingdom)	8,732	257,053
CK Hutchison Holdings Ltd.	47,000	229,856
DCC PLC (United Kingdom)	6,342	435,571
HSBC Holdings PLC (United Kingdom)	235,650	2,052,501
Imperial Brands PLC	8,842	202,443
Schroders PLC	214,889	949,290
Taylor Wimpey PLC	226,360	373,853
Vodafone Group PLC	2,999,881	2,541,513
TOTAL UNITED KINGDOM		8,254,838
United States of America - 1.7%
GSK PLC	12,084	253,141
Nestle SA (Reg. S)	3,907	392,766
Roche Holding AG (participation certificate)	1,758	422,848
Sanofi SA	3,032	301,762
Stellantis NV (Italy)	13,981	312,139
TOTAL UNITED STATES OF AMERICA		1,682,656
TOTAL COMMON STOCKS (Cost $96,127,467)		95,857,282

Money Market Funds - 0.1%
	Shares	Value ($)
Fidelity Cash Central Fund 5.39% (d) (Cost $83,612)	83,595	83,612

TOTAL INVESTMENT IN SECURITIES - 99.2% (Cost $96,211,079)	95,940,894
NET OTHER ASSETS (LIABILITIES) - 0.8%	801,244
NET ASSETS - 100.0%	96,742,138

Futures Contracts
	Number of contracts	Expiration Date	Notional Amount ($)	Value ($)	Unrealized Appreciation/ (Depreciation) ($)
Purchased

Equity Index Contracts
ICE E-mini MSCI EAFE Index Contracts (United States)	8	Jun 2024	907,000	(27,440)	(27,440)

The notional amount of futures purchased as a percentage of Net Assets is 0.9%

Legend

(a)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $1,316,340 or 1.4% of net assets.

(b)	Non-income producing

(c)	Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(d)

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Affiliate	Value, beginning of period ($)	Purchases ($)	Sales Proceeds ($)	Dividend Income ($)	Realized Gain (loss) ($)	Change in Unrealized appreciation (depreciation) ($)	Value, end of period ($)	% ownership, end of period
Fidelity Cash Central Fund 5.39%	30,635	6,799,196	6,746,219	3,049	-	-	83,612	0.0%
Fidelity Securities Lending Cash Central Fund 5.39%	2,024,860	3,411,268	5,436,128	6,433	-	-	-	0.0%
Total	2,055,495	10,210,464	12,182,347	9,482	-	-	83,612

Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

Investment Valuation

Valuation Inputs at Reporting Date:
Description	Total ($)	Level 1 ($)	Level 2 ($)	Level 3 ($)
Investments in Securities:

Equities:
Communication Services	9,895,673	9,895,673	-	-
Consumer Discretionary	4,512,612	4,512,612	-	-
Consumer Staples	1,674,783	1,674,783	-	-
Energy	12,298,460	12,298,460	-	-
Financials	27,048,377	27,048,377	-	-
Health Care	4,200,720	4,200,720	-	-
Industrials	9,865,371	9,865,371	-	-
Information Technology	2,336,705	2,336,705	-	-
Materials	14,055,914	14,055,914	-	-
Utilities	9,968,667	9,968,667	-	-

Money Market Funds	83,612	83,612	-	-
Total Investments in Securities:	95,940,894	95,940,894	-	-
Derivative Instruments: Liabilities
Futures Contracts	(27,440)	(27,440)	-	-
Total Liabilities	(27,440)	(27,440)	-	-
Total Derivative Instruments:	(27,440)	(27,440)	-	-

Value of Derivative Instruments

Primary Risk Exposure / Derivative Type	Value
	Asset ($)	Liability ($)
Equity Risk
Futures Contracts (a)	0	(27,440)
Total Equity Risk	0	(27,440)
Total Value of Derivatives	0	(27,440)

Fidelity® International High Dividend ETF

Financial Statements(Unaudited)

Statement of Assets and Liabilities
				April 30, 2024 (Unaudited)

Assets
Investment in securities, at value - See accompanying schedule:
Unaffiliated issuers (cost $96,127,467)	$	95,857,282
Fidelity Central Funds (cost $83,612)		83,612


Total Investment in Securities (cost $96,211,079)			$	95,940,894
Segregated cash with brokers for derivative instruments				36,868
Foreign currency held at value (cost $169,876)				169,803
Receivable for investments sold				235
Dividends receivable				498,449
Reclaims receivable				199,925
Distributions receivable from Fidelity Central Funds				252
Other receivables				363
Total assets				96,846,789
Liabilities
Payable for investments purchased on a delayed delivery basis	$	77,637
Accrued management fee		14,534
Payable for daily variation margin on futures contracts		12,480
Total liabilities				104,651
Net Assets			$	96,742,138
Net Assets consist of:
Paid in capital			$	106,606,027
Total accumulated earnings (loss)				(9,863,889)
Net Assets			$	96,742,138
Net Asset Value, offering price and redemption price per share ($96,742,138 ÷ 4,700,000 shares)			$	20.58

Statement of Operations
				Six months ended April 30, 2024 (Unaudited)
Investment Income
Dividends			$	2,641,515
Income from Fidelity Central Funds (including $6,433 from security lending)				9,482
Income before foreign taxes withheld			$	2,650,997
Less foreign taxes withheld				(281,752)
Total income				2,369,245
Expenses
Management fee	$	84,082
Independent trustees' fees and expenses		228
Total expenses before reductions		84,310
Expense reductions		(166)
Total expenses after reductions				84,144
Net Investment income (loss)				2,285,101
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Unaffiliated issuers		(2,708,096)
Redemptions in-kind		2,092,472
Foreign currency transactions		21,623
Futures contracts		60,673
Total net realized gain (loss)				(533,328)
Change in net unrealized appreciation (depreciation) on:
Investment Securities:
Unaffiliated issuers		12,654,985
Assets and liabilities in foreign currencies		(24,881)
Futures contracts		4,260
Total change in net unrealized appreciation (depreciation)				12,634,364
Net gain (loss)				12,101,036
Net increase (decrease) in net assets resulting from operations			$	14,386,137

Statement of Changes in Net Assets

		Six months ended April 30, 2024 (Unaudited)		Year ended October 31, 2023
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	2,285,101	$	4,080,155
Net realized gain (loss)		(533,328)		(1,882,311)
Change in net unrealized appreciation (depreciation)		12,634,364		7,259,993
Net increase (decrease) in net assets resulting from operations		14,386,137		9,457,837
Distributions to shareholders		(1,992,100)		(4,144,700)

Share transactions
Proceeds from sales of shares		9,892,925		-
Cost of shares redeemed		(6,057,904)		(5,529,770)

Net increase (decrease) in net assets resulting from share transactions		3,835,021		(5,529,770)
Total increase (decrease) in net assets		16,229,058		(216,633)

Net Assets
Beginning of period		80,513,080		80,729,713
End of period	$	96,742,138	$	80,513,080

Other Information
Shares
Sold		500,000		-
Redeemed		(300,000)		(300,000)
Net increase (decrease)		200,000		(300,000)

Financial Highlights

Fidelity® International High Dividend ETF

		Six months ended (Unaudited) April 30, 2024		Years ended October 31, 2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	17.89	$	16.82	$	21.08	$	15.10	$	20.96	$	20.56
Income from Investment Operations
Net investment income (loss) A,B		.49		.89		.97		.77		.60		1.04
Net realized and unrealized gain (loss)		2.63		1.08		(4.22)		5.95		(5.81)		.31
Total from investment operations		3.12		1.97		(3.25)		6.72		(5.21)		1.35
Distributions from net investment income		(.43)		(.90)		(1.01)		(.74)		(.65)		(.95)
Total distributions		(.43)		(.90)		(1.01)		(.74)		(.65)		(.95)
Net asset value, end of period	$	20.58	$	17.89	$	16.82	$	21.08	$	15.10	$	20.96
Total Return C,D,E		17.48 %		11.57%		(15.83)%		44.78%		(24.98)%		6.84%
Ratios to Average Net Assets B,F,G
Expenses before reductions		.18% H		.39%		.39%		.39%		.39%		.39%
Expenses net of fee waivers, if any		.18 % H		.39%		.39%		.39%		.39%		.39%
Expenses net of all reductions		.18% H		.39%		.39%		.39%		.39%		.39%
Net investment income (loss)		4.89% H		4.68%		4.96%		3.82%		3.38%		5.07%
Supplemental Data
Net assets, end of period (000 omitted)	$	96,742	$	80,513	$	80,730	$	82,197	$	45,290	$	44,022
Portfolio turnover rate I,J		123 % H		67%		71%		67%		82%		47%

ACalculated based on average shares outstanding during the period.

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

CTotal returns for periods of less than one year are not annualized.

DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

EBased on net asset value.

FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

HAnnualized.

IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

JPortfolio turnover rate excludes securities received or delivered in-kind.

Fidelity® International Multifactor ETF

Schedule of Investments April 30, 2024 (Unaudited) Showing Percentage of Net Assets

Top Holdings (% of Fund's net assets)

Novo Nordisk A/S Series B (Denmark, Pharmaceuticals)	2.6
AstraZeneca PLC (United Kingdom) (United Kingdom, Pharmaceuticals)	1.6
Redeia Corp. SA (Spain, Electric Utilities)	1.4
Tokyo Gas Co. Ltd. (Japan, Gas Utilities)	1.4
Novartis AG (Switzerland, Pharmaceuticals)	1.4
PSP Swiss Property AG (Switzerland, Real Estate Management & Development)	1.3
Snam SpA (Italy, Gas Utilities)	1.3
Endesa SA (Spain, Electric Utilities)	1.3
Publicis Groupe SA (France, Media)	1.3
BKW AG (Switzerland, Electric Utilities)	1.3
	14.9

Market Sectors (% of Fund's net assets)

Financials	16.9
Health Care	16.0
Consumer Staples	13.4
Industrials	13.4
Communication Services	8.3
Utilities	7.7
Consumer Discretionary	7.2
Real Estate	6.5
Information Technology	4.7
Materials	3.4
Energy	1.7

Asset Allocation (% of Fund's net assets)

Futures - 0.7%

Geographic Diversification (% of Fund's net assets)

* Includes Short-Term investments and Net Other Assets (Liabilities).

Percentages are adjusted for the effect of derivatives, if applicable.

Fidelity® International Multifactor ETF

Common Stocks - 99.3%
	Shares	Value ($)
Australia - 5.1%
BHP Group Ltd.	9,588	267,903
Brambles Ltd.	14,517	137,817
Fortescue Ltd.	4,877	82,497
Insurance Australia Group Ltd.	72,629	303,721
JB Hi-Fi Ltd.	1,968	78,017
Medibank Private Ltd.	112,424	259,889
Rio Tinto Ltd.	1,079	91,428
Rio Tinto PLC	2,757	188,903
Sonic Healthcare Ltd.	30,807	535,521
Suncorp Group Ltd.	31,681	341,908
Telstra Group Ltd.	279,328	665,671
Washington H. Soul Pattinson & Co. Ltd.	12,603	267,363
Wesfarmers Ltd.	4,182	181,374
TOTAL AUSTRALIA		3,402,012
Austria - 0.1%
Mondi PLC	4,418	84,031
Brazil - 0.2%
Yara International ASA	4,472	128,214
Canada - 8.9%
ARC Resources Ltd.	4,429	80,369
B2Gold Corp.	56,371	142,789
Boyd Group Services, Inc.	934	175,012
Canadian Apartment Properties (REIT) unit	17,124	534,093
Canadian National Railway Co.	3,090	375,811
Canadian Natural Resources Ltd.	1,935	146,930
CGI, Inc. Class A (sub. vtg.) (a)	1,648	167,325
Constellation Software, Inc.	89	229,604
Constellation Software, Inc. warrants 3/31/40 (a)(b)	40	0
Dollarama, Inc.	2,141	178,966
Fairfax Financial Holdings Ltd. (sub. vtg.)	272	296,324
Great-West Lifeco, Inc.	7,311	216,640
iA Financial Corp., Inc.	3,517	213,654
Imperial Oil Ltd.	1,196	82,397
Intact Financial Corp.	1,881	309,796
Loblaw Companies Ltd.	4,440	487,872
Manulife Financial Corp.	15,034	351,379
Metro, Inc.	8,300	425,437
Northland Power, Inc.	41,785	639,009
Parkland Corp.	1,880	58,035
Power Corp. of Canada (sub. vtg.)	9,022	240,876
Stantec, Inc.	2,671	213,101
Stella-Jones, Inc.	2,690	156,601
TMX Group Ltd.	9,496	251,941
TOTAL CANADA		5,973,961
China - 0.4%
BOC Hong Kong (Holdings) Ltd.	92,000	284,074
Denmark - 4.2%
A.P. Moller - Maersk A/S Series B	127	185,529
Carlsberg A/S Series B	3,705	500,986
Demant A/S (a)	5,301	255,651
Novo Nordisk A/S Series B	13,344	1,726,696
Pandora A/S	1,088	166,818
Svitzer A/S	254	8,552
TOTAL DENMARK		2,844,232
Finland - 0.7%
Kone OYJ (B Shares)	4,958	242,801
Orion Oyj (B Shares)	5,359	205,081
TOTAL FINLAND		447,882
France - 7.6%
bioMerieux SA	2,248	240,367
Compagnie de St.-Gobain	4,041	322,594
Dassault Aviation SA	1,056	227,181
Dassault Systemes SA	3,160	125,118
Edenred SA	4,817	228,995
Eiffage SA	2,027	217,387
Gaztransport et Technigaz SA	198	27,734
Hermes International SCA	136	327,336
Ipsen SA	2,139	260,961
L'Oreal SA	1,702	800,103
La Francaise des Jeux SAEM (c)	3,431	130,088
Publicis Groupe SA	7,652	849,690
SCOR SE	8,447	276,739
Sodexo SA	1,811	158,302
Sopra Steria Group	411	90,529
Thales SA	1,548	261,439
TotalEnergies SE	2,427	177,996
VINCI SA	2,866	337,858
TOTAL FRANCE		5,060,417
Germany - 4.9%
Allianz SE	1,865	531,641
Bayerische Motoren Werke AG (BMW)	2,012	220,404
Beiersdorf AG	3,289	494,281
Deutsche Borse AG	1,504	291,317
DHL Group	4,104	172,281
Fresenius Medical Care AG & Co. KGaA	6,624	280,475
Fresenius SE & Co. KGaA	9,612	287,465
Hannover Reuck SE	989	245,760
Knorr-Bremse AG	1,395	103,741
Siemens AG	2,429	456,849
Talanx AG	2,916	220,438
TOTAL GERMANY		3,304,652
Hong Kong - 1.2%
Jardine Matheson Holdings Ltd.	2,377	91,205
Sino Land Ltd.	667,295	717,531
TOTAL HONG KONG		808,736
Ireland - 0.7%
Glanbia PLC	24,702	471,201
Israel - 2.0%
Bank Hapoalim BM (Reg.)	26,972	244,684
Bank Leumi le-Israel BM	30,389	238,556
Icl Group Ltd.	32,090	151,489
Israel Discount Bank Ltd. (Class A)	44,449	229,602
Mizrahi Tefahot Bank Ltd.	5,827	213,412
NICE Ltd. (a)	549	123,172
Nova Ltd. (a)	667	115,674
TOTAL ISRAEL		1,316,589
Italy - 3.3%
Assicurazioni Generali SpA	12,096	296,181
BPER Banca	58,363	305,221
Buzzi SpA	4,339	157,093
Eni SpA	3,764	60,917
Ferrari NV (Italy)	621	257,102
Recordati SpA	4,509	241,303
Snam SpA	191,701	881,808
TOTAL ITALY		2,199,625
Japan - 23.3%
Advance Residence Investment Corp.	371	805,112
Dai Nippon Printing Co. Ltd.	6,900	201,960
Daito Trust Construction Co. Ltd.	7,100	763,172
Daiwa Securities Group, Inc.	32,600	240,722
Honda Motor Co. Ltd.	26,500	305,138
INPEX Corp.	6,700	101,864
Itochu Corp.	7,700	349,170
Japan Exchange Group, Inc.	10,200	240,278
Japan Tobacco, Inc.	20,600	555,695
Kajima Corp.	11,000	212,010
KDDI Corp.	24,100	673,847
Kyushu Financial Group, Inc.	31,300	210,636
McDonald's Holdings Co. (Japan) Ltd.	4,100	180,815
Medipal Holdings Corp.	25,600	401,817
Mitsubishi Corp.	21,500	494,583
Mitsubishi UFJ Lease & Finance Co. Ltd.	30,400	197,721
Mitsui & Co. Ltd.	8,300	402,909
NEC Corp.	3,200	233,851
Nexon Co. Ltd.	41,600	653,350
Nippon Telegraph & Telephone Corp.	598,200	649,271
NOF Corp.	8,300	111,975
Obayashi Corp.	20,800	232,896
OBIC Co. Ltd.	1,200	155,257
Ono Pharmaceutical Co. Ltd.	25,000	361,580
Otsuka Corp.	8,600	172,038
Otsuka Holdings Co. Ltd.	12,200	522,685
Sanwa Holdings Corp.	12,100	199,187
SCSK Corp.	9,600	175,419
Secom Co. Ltd.	2,900	202,345
Sekisui Chemical Co. Ltd.	13,000	190,128
Sekisui House Ltd.	9,100	209,682
SHIMANO, Inc.	1,400	229,664
Shin-Etsu Chemical Co. Ltd.	6,300	248,013
Shionogi & Co. Ltd.	9,200	431,105
Sojitz Corp.	8,000	206,348
Sompo Holdings, Inc.	14,300	283,519
Subaru Corp.	10,000	224,446
Sumitomo Corp.	10,900	287,799
Sumitomo Forestry Co. Ltd.	6,300	195,568
Suntory Beverage & Food Ltd.	13,900	452,778
TIS, Inc.	8,100	173,772
Tokio Marine Holdings, Inc.	13,100	415,481
Tokyo Gas Co. Ltd.	41,100	924,303
Toppan Holdings, Inc.	7,300	173,866
Toyo Suisan Kaisha Ltd.	8,400	525,304
Trend Micro, Inc.	3,300	163,778
USS Co. Ltd.	19,200	147,143
Zensho Holdings Co. Ltd.	3,700	144,247
TOTAL JAPAN		15,634,247
Jordan - 0.4%
Hikma Pharmaceuticals PLC	10,061	242,383
Netherlands - 3.9%
ASML Holding NV (Netherlands)	863	768,385
EXOR NV	2,251	247,187
Koninklijke Ahold Delhaize NV	18,951	576,290
Koninklijke KPN NV	206,873	753,846
Wolters Kluwer NV	1,968	296,178
TOTAL NETHERLANDS		2,641,886
Norway - 0.7%
Equinor ASA	1,780	48,052
Orkla ASA	57,936	396,559
TOTAL NORWAY		444,611
Portugal - 0.7%
Galp Energia SGPS SA Class B	2,018	43,586
Jeronimo Martins SGPS SA	19,715	407,903
TOTAL PORTUGAL		451,489
Singapore - 1.8%
CapitaLand Integrated Commercial Trust	474,000	681,239
Oversea-Chinese Banking Corp. Ltd.	31,181	325,814
Singapore Exchange Ltd.	30,100	206,589
TOTAL SINGAPORE		1,213,642
Spain - 3.1%
Endesa SA	47,154	862,172
Industria de Diseno Textil SA	5,544	254,011
Redeia Corp. SA	55,912	935,618
TOTAL SPAIN		2,051,801
Sweden - 3.1%
Atlas Copco AB (A Shares)	19,606	349,128
Epiroc AB (A Shares)	10,796	203,410
Essity AB (B Shares)	20,803	520,459
Evolution AB (c)	1,481	166,236
H&M Hennes & Mauritz AB (B Shares)	10,884	175,270
Holmen AB (B Shares)	3,802	149,504
Securitas AB (B Shares)	16,633	168,893
Swedish Orphan Biovitrum AB (a)	9,419	244,917
Telefonaktiebolaget LM Ericsson (B Shares)	22,067	113,030
TOTAL SWEDEN		2,090,847
Switzerland - 6.3%
Banque Cantonale Vaudoise	1,617	169,607
BKW AG	5,675	843,376
Galenica AG (c)	2,789	213,626
Geberit AG (Reg.)	402	216,352
Kuehne & Nagel International AG	687	182,546
Logitech International SA (Reg.)	1,359	106,776
Novartis AG	9,459	918,415
Partners Group Holding AG	205	265,875
PSP Swiss Property AG	7,329	910,182
UBS Group AG	15,233	403,102
TOTAL SWITZERLAND		4,229,857
United Kingdom - 12.1%
3i Group PLC	10,010	360,478
Admiral Group PLC	7,595	259,530
AstraZeneca PLC (United Kingdom)	7,176	1,083,822
Auto Trader Group PLC (c)	77,247	675,526
BAE Systems PLC	14,542	242,723
British American Tobacco PLC (United Kingdom)	19,044	560,618
CK Hutchison Holdings Ltd.	22,000	107,592
Compass Group PLC	9,692	270,872
Computacenter PLC	2,554	82,572
IG Group Holdings PLC	25,500	238,835
Imperial Brands PLC	17,101	391,537
InterContinental Hotel Group PLC	2,029	199,489
J Sainsbury PLC	104,207	343,692
Man Group PLC	76,281	246,047
Marks & Spencer Group PLC	115,283	369,251
RELX PLC (London Stock Exchange)	7,445	307,914
Rightmove PLC	98,168	633,043
Rolls-Royce Holdings PLC (a)	47,550	245,959
Sage Group PLC	7,890	115,195
Smith & Nephew PLC	19,567	239,863
Standard Chartered PLC (United Kingdom)	34,879	301,261
Unilever PLC	15,629	810,192
TOTAL UNITED KINGDOM		8,086,011
United States of America - 4.6%
CRH PLC	2,131	166,397
Experian PLC	4,716	191,563
GSK PLC	25,784	540,135
Holcim AG	2,739	230,492
Roche Holding AG (participation certificate)	3,412	820,681
Sanofi SA	6,274	624,425
Shell PLC (London)	6,791	243,451
Stellantis NV (Italy)	10,727	239,490
TOTAL UNITED STATES OF AMERICA		3,056,634
TOTAL COMMON STOCKS (Cost $63,877,378)		66,469,034

Money Market Funds - 0.3%
	Shares	Value ($)
Fidelity Cash Central Fund 5.39% (d) (Cost $208,323)	208,282	208,323

TOTAL INVESTMENT IN SECURITIES - 99.6% (Cost $64,085,701)	66,677,357
NET OTHER ASSETS (LIABILITIES) - 0.4%	274,611
NET ASSETS - 100.0%	66,951,968

Futures Contracts
	Number of contracts	Expiration Date	Notional Amount ($)	Value ($)	Unrealized Appreciation/ (Depreciation) ($)
Purchased

Equity Index Contracts
ICE E-mini MSCI EAFE Index Contracts (United States)	4	Jun 2024	453,500	(13,181)	(13,181)

The notional amount of futures purchased as a percentage of Net Assets is 0.7%

Legend

(a)	Non-income producing

(b)	Level 3 security

(c)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $1,185,476 or 1.8% of net assets.

(d)

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Affiliate	Value, beginning of period ($)	Purchases ($)	Sales Proceeds ($)	Dividend Income ($)	Realized Gain (loss) ($)	Change in Unrealized appreciation (depreciation) ($)	Value, end of period ($)	% ownership, end of period
Fidelity Cash Central Fund 5.39%	208,816	2,735,026	2,735,519	3,580	-	-	208,323	0.0%
Total	208,816	2,735,026	2,735,519	3,580	-	-	208,323

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

Investment Valuation

Valuation Inputs at Reporting Date:
Description	Total ($)	Level 1 ($)	Level 2 ($)	Level 3 ($)
Investments in Securities:

Equities:
Communication Services	5,554,244	5,554,244	-	-
Consumer Discretionary	4,830,606	4,830,606	-	-
Consumer Staples	9,090,158	9,090,158	-	-
Energy	1,071,331	1,071,331	-	-
Financials	11,272,793	11,272,793	-	-
Health Care	10,678,974	10,678,974	-	-
Industrials	9,004,489	9,004,489	-	-
Information Technology	3,111,495	3,111,495	-	-
Materials	2,357,329	2,357,329	-	-
Real Estate	4,411,329	4,411,329	-	-
Utilities	5,086,286	5,086,286	-	-

Money Market Funds	208,323	208,323	-	-
Total Investments in Securities:	66,677,357	66,677,357	-	-
Derivative Instruments: Liabilities
Futures Contracts	(13,181)	(13,181)	-	-
Total Liabilities	(13,181)	(13,181)	-	-
Total Derivative Instruments:	(13,181)	(13,181)	-	-

Value of Derivative Instruments

Primary Risk Exposure / Derivative Type	Value
	Asset ($)	Liability ($)
Equity Risk
Futures Contracts (a)	0	(13,181)
Total Equity Risk	0	(13,181)
Total Value of Derivatives	0	(13,181)

Fidelity® International Multifactor ETF

Financial Statements(Unaudited)

Statement of Assets and Liabilities
				April 30, 2024 (Unaudited)

Assets
Investment in securities, at value - See accompanying schedule:
Unaffiliated issuers (cost $63,877,378)	$	66,469,034
Fidelity Central Funds (cost $208,323)		208,323


Total Investment in Securities (cost $64,085,701)			$	66,677,357
Segregated cash with brokers for derivative instruments				18,941
Foreign currency held at value (cost $112,080)				111,422
Dividends receivable				255,207
Reclaims receivable				78,234
Distributions receivable from Fidelity Central Funds				448
Other receivables				227
Total assets				67,141,836
Liabilities
Payable for investments purchased	$	173,980
Accrued management fee		9,648
Payable for daily variation margin on futures contracts		6,240
Total liabilities				189,868
Net Assets			$	66,951,968
Net Assets consist of:
Paid in capital			$	65,850,977
Total accumulated earnings (loss)				1,100,991
Net Assets			$	66,951,968
Net Asset Value, offering price and redemption price per share ($66,951,968 ÷ 2,500,000 shares)			$	26.78

Statement of Operations
				Six months ended April 30, 2024 (Unaudited)
Investment Income
Dividends			$	868,685
Income from Fidelity Central Funds				3,580
Income before foreign taxes withheld			$	872,265
Less foreign taxes withheld				(91,242)
Total income				781,023
Expenses
Management fee	$	44,119
Independent trustees' fees and expenses		101
Total expenses before reductions		44,220
Expense reductions		(131)
Total expenses after reductions				44,089
Net Investment income (loss)				736,934
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Unaffiliated issuers		(340,317)
Redemptions in-kind		940,371
Foreign currency transactions		(7,501)
Futures contracts		35,167
Total net realized gain (loss)				627,720
Change in net unrealized appreciation (depreciation) on:
Investment Securities:
Unaffiliated issuers		3,616,114
Assets and liabilities in foreign currencies		(4,286)
Futures contracts		(8,683)
Total change in net unrealized appreciation (depreciation)				3,603,145
Net gain (loss)				4,230,865
Net increase (decrease) in net assets resulting from operations			$	4,967,799

Statement of Changes in Net Assets

		Six months ended April 30, 2024 (Unaudited)		Year ended October 31, 2023
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	736,934	$	628,622
Net realized gain (loss)		627,720		(549,531)
Change in net unrealized appreciation (depreciation)		3,603,145		560,479
Net increase (decrease) in net assets resulting from operations		4,967,799		639,570
Distributions to shareholders		(648,300)		(626,600)

Share transactions
Proceeds from sales of shares		37,075,518		17,630,620
Cost of shares redeemed		(5,329,251)		-

Net increase (decrease) in net assets resulting from share transactions		31,746,267		17,630,620
Total increase (decrease) in net assets		36,065,766		17,643,590

Net Assets
Beginning of period		30,886,202		13,242,612
End of period	$	66,951,968	$	30,886,202

Other Information
Shares
Sold		1,400,000		700,000
Redeemed		(200,000)		-
Net increase (decrease)		1,200,000		700,000

Financial Highlights

Fidelity® International Multifactor ETF

		Six months ended (Unaudited) April 30, 2024		Years ended October 31, 2023		2022		2021		2020		2019 A
Selected Per-Share Data
Net asset value, beginning of period	$	23.76	$	22.07	$	29.41	$	24.01	$	26.18	$	25.05
Income from Investment Operations
Net investment income (loss) B,C		.40		.70		.65		.65		.57		.55
Net realized and unrealized gain (loss)		2.96		1.67		(7.12)		5.34		(2.07)		1.12
Total from investment operations		3.36		2.37		(6.47)		5.99		(1.50)		1.67
Distributions from net investment income		(.34)		(.68)		(.87)		(.59)		(.67)		(.54)
Total distributions		(.34)		(.68)		(.87)		(.59)		(.67)		(.54)
Net asset value, end of period	$	26.78	$	23.76	$	22.07	$	29.41	$	24.01	$	26.18
Total Return D,E,F		14.15 %		10.58%		(22.36)%		25.08%		(5.73)%		6.72%
Ratios to Average Net Assets C,G,H
Expenses before reductions		.18% I		.39%		.39%		.39%		.39%		.39% I
Expenses net of fee waivers, if any		.18 % I		.39%		.39%		.39%		.39%		.39% I
Expenses net of all reductions		.18% I		.39%		.39%		.39%		.39%		.39% I
Net investment income (loss)		3.00% I		2.78%		2.51%		2.28%		2.29%		3.18% I
Supplemental Data
Net assets, end of period (000 omitted)	$	66,952	$	30,886	$	13,243	$	17,648	$	7,202	$	10,473
Portfolio turnover rate J,K		37 % I		60%		61%		74%		69%		35% L

AFor the period February 26, 2019 (commencement of operations) through October 31, 2019.

BCalculated based on average shares outstanding during the period.

DTotal returns for periods of less than one year are not annualized.

ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

FBased on net asset value.

IAnnualized.

JPortfolio turnover rate excludes securities received or delivered in-kind.

KAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

LAmount not annualized.

Fidelity® International Value Factor ETF