Fidelity Covington Trust - Fidelity Preferred Securities & Income ETF is an exchange traded fund launched and managed by Fidelity Management & Research Company LLC. The fund is co-managed by Fidelity Management & Research (Hong Kong) Limited, Fidelity Management & Research (Japan) Limited, FMR Investment Management (UK) Limited. It invests in the fixed income markets of global region. The fund invests in investment grade preferred securities and other income-producing securities that are rated at least BB by S&P and Ba by Moody's. It employs fundamental analysis to create its portfolio. The fund benchmarks the performance of its portfolio against the ICE BofA US All Capital Securities Index, the ICE U.S. All Capital Securities Constrained Custom Index and the Bloomberg U.S. Universal Bond Index. Fidelity Covington Trust - Fidelity Preferred Securities & Income ETF was formed on June 15, 2021 and is domiciled in the United States.