Three ETF Share Classes to Be Added to Existing Intermediate Municipal Income, Real Estate Income, and Short-Term Bond Strategies
BOSTON, June 15, 2026 – Fidelity Investments® today announced the upcoming launch of its first ETF share classes, Fidelity® Intermediate Municipal Income ETF (FIMU), Fidelity® Real Estate Income ETF (FREI), and Fidelity® Short-Term Bond ETF (FSTB). The ETF share classes will be added to existing mutual fund strategies, sharing the same portfolio and track record and maintaining the same investment policies and portfolio management team. They will be listed on the Nasdaq Stock Market LLC and available to individual investors and advisors on Fidelity’s platform on June 18, 2026.
“We are at an inflection point in the ETF industry, with exemptive relief providing the opportunity to offer additional product choice for investors,” said Greg Friedman, head of ETFs at Fidelity Investments. “Fidelity remains committed to delivering innovation and exceptional value to our customers, and the long-term historical performance of these strategies paired with the experienced portfolio management teams make them a strong fit to adopt Fidelity’s first ETF share classes.”
Fidelity Intermediate Municipal Income normally invests at least 80% of its assets in municipal securities whose interest is exempt from federal income tax. The strategy is managed by co-portfolio managers Cormac Cullen, Michael Maka, and Elizah McLaughlin who have a combined 26 years of experience. The ETF share class (FIMU) will have estimated gross and neti expense ratios of 0.31% and 0.30%, respectively.
Fidelity Real Estate Income normally invests at least 80% of its assets in debt and income-producing equity securities of companies principally engaged in the real estate industry and other real estate related investments. The strategy is managed by Bill Maclay, who has 27 years of experience. The ETF share class (FREI) will have estimated gross and neti expense ratios of 0.59% and 0.57%, respectively.
Fidelity Short-Term Bond normally invests at least 80% of its assets in investment-grade debt securities of all types and repurchase agreements for those securities. The strategy is managed by co-portfolio managers Dave DeBiase, Robert Galusza, and John Mistovich who have a combined 89 years of experience. The ETF share class (FSTB) will have estimated gross and neti expense ratios of 0.21% and 0.20%, respectively.
Investors who currently own shares of the existing mutual funds on Fidelity’s platform will have the option to convert their shares to the ETF Class on a recurring basis as a non-taxable event. To learn more about whether and how to convert existing mutual fund shares, investors and advisors may contact their Fidelity representative or dial 1-800-343-3548ii.
Fidelity’s Growing Exchange-Traded Platform
Fidelity continues to prioritize active ETF development, with this week’s launches totaling ten products introduced over the past year. With this week’s ETF share class launches, Fidelity’s exchange-traded lineup consists of 84 ETFs and ETPs with $172 billion in assets under managementiii, including 33 actively managed equity ETFs, 18 fixed income ETFs, 13 equity factor ETFs, five passive thematic ETFs, 11 passive equity sector ETFs, three digital asset ETPs and Fidelity ONEQ. Most recently, Fidelity added four active Enhanced ETFs to the lineup: Fidelity Enhanced Mid Cap Growth ETF (FEMG), Fidelity Enhanced Mid Cap Value ETF (FEMV), Fidelity Enhanced Small Cap Growth ETF (FSEG), and Fidelity Enhanced Small Cap Value ETF (FSEV).
As part of Fidelity's commitment to financial education, the company offers a variety of resources to help investors review exchange-traded investing ideas, decide which types of exchange-traded offerings may fit their investing needs, or browse offerings with Fidelity’s screeners: Investing in ETFs/ETPs | Fidelity Investments or Fidelity ETFs & ETPs | Fidelity Institutional. As a leading provider of exchange-traded offerings, Fidelity’s platform offers individual investors and advisors access to more than 5,000 exchange-traded offerings, with nearly $2.1 trillion in exchange-traded assetsiv.
About Fidelity Investments
Fidelity’s goal is to strengthen the financial well-being of our customers and deliver better outcomes for the clients and businesses we serve. Fidelity’s strength comes from the scale of our diversified, market-leading financial services businesses that serve individuals, families, employers, wealth management firms, and institutions. With assets under administration of $17.9 trillion, including managed assets of $7.0 trillion as of March 31, 2026, we focus on meeting the unique needs of a broad and growing customer base. Privately held for 79 years, Fidelity employs more than 80,000 associates across North America, Europe, and Asia-Pacific. For more information about Fidelity Investments, visit https://www.fidelity.com/about-fidelity/our-company.
###
Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.
Past performance is no guarantee of future results.
Exchange-traded products (ETPs) are subject to market volatility and the risks of their underlying securities, which may include the risks associated with investing in smaller companies, foreign securities, commodities, and fixed income investments. Foreign securities are subject to interest rate, currency exchange rate, economic, and political risks, all of which are magnified in emerging markets. ETPs that target a small universe of securities, such as a specific region or market sector, are generally subject to greater market volatility, as well as to the specific risks associated with that sector, region, or other focus. ETPs that use derivatives, leverage, or complex investment strategies are subject to additional risks. The return of an index ETP is usually different from that of the index it tracks because of fees, expenses, and tracking error. An ETP may trade at a premium or discount to its net asset value (NAV) (or indicative value in the case of exchange-traded notes). The degree of liquidity can vary significantly from one ETP to another and losses may be magnified if no liquid market exists for the ETP's shares when attempting to sell them. Each ETP has a unique risk profile, detailed in its prospectus, offering circular, or similar material, which should be considered carefully when making investment decisions.
In general, fixed income ETFs carry risks similar to those of bonds, including interest rate risk (as interest rates rise, bond prices usually fall, and vice versa), issuer or counterparty default risk, issuer credit risk, inflation risk, and call risk. Unlike individual bonds, many fixed income ETFs do not have a maturity date, so holding a fixed income security until maturity to try to avoid losses associated with bond price volatility is not possible with these types of ETFs. Certain fixed income ETFs may invest in lower-quality debt securities, which involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. The value of securities of issuers in the real estate industry can be affected by changes in real estate values and rental income, property taxes, interest rates, tax and regulatory requirements, and the management skill and creditworthiness of the issuer.
The municipal market can be affected by adverse tax, legislative or political changes and the financial condition of the issuers of municipal funds. Although municipal funds seek to provide interest dividends exempt from federal income taxes and some of these funds may seek to generate income that is also exempt from the federal alternative minimum tax, outcomes cannot be guaranteed, and the funds may generate some income subject to these taxes. Income from these funds is usually subject to state and local income taxes. Generally, municipal securities are not appropriate for tax-advantaged accounts such as IRAs and 401(k)s.
Unless otherwise expressly disclosed to you in writing, the information provided in this material is for educational purposes only. Any viewpoints expressed by Fidelity are not intended to be used as a primary basis for your investment decisions and are based on facts and circumstances at the point in time they are made and are not particular to you. Accordingly, nothing in this material constitutes impartial investment advice or advice in a fiduciary capacity, as defined or under the Employee Retirement Income Security Act of 1974 or the Internal Revenue Code of 1986, both as amended. Fidelity and its representatives may have a conflict of interest in the products or services mentioned in this material because they have a financial interest in the products or services and may receive compensation, directly or indirectly, in connection with the management, distribution, and/or servicing of these products or services, including Fidelity funds, certain third-party funds and products, and certain investment services. Before making any investment decisions, you should take into account all of the particular facts and circumstances of your or your client’s individual situation and reach out to an investment professional, if applicable.
Views expressed are as of the date indicated, based on the information available at that time, and may change based on market or other conditions. Unless otherwise noted, the opinions provided are those of the speaker or author and not necessarily those of Fidelity Investments or its affiliates. Fidelity does not assume any duty to update any of the information.
Diversification does not ensure a profit or guarantee against a loss. Past performance is no guarantee of future results.
Before investing in any exchange-traded fund, you should consider its investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus, offering circular or, if available, a summary prospectus containing this information. Read it carefully.
Fidelity Brokerage Services LLC, Member NYSE, SIPC
900 Salem Street, Smithfield, RI 02917
Fidelity Distributors Company LLC
900 Salem Street, Smithfield, RI 02917
National Financial Services LLC, Member NYSE, SIPC
245 Summer Street, Boston, MA 02210
1267307.1.0
1.9923032.100
© 2026 FMR LLC. All rights reserved
i Estimated expense ratio after fee waiver and/or expense reimbursement is 0.30% for FIMU, 0.57% for FREI, and 0.20% for FSTB, subject to certain exclusions as noted in the ETF Class prospectus. Each class’s net expense cap cannot be removed or increased without Board approval prior to April 30, 2028 for FIMU, November 30, 2027 for FREI, and December 31, 2027 for FSTB.
ii Mutual fund class shareholders who invest through a third-party financial intermediary should contact that financial intermediary for information regarding conversions. Conversions may be available only during certain time periods. The availability and length of the conversion process will depend on a shareholder's financial intermediary, but may take several days from the date the request is accepted. Shareholders will remain fully invested in their mutual fund class shares until the conversion process is complete.
iii Data as of May 31, 2026
iv Data as of March 31, 2026.
