At a glance
FDIF charges 0.5% a year, below the 0.86% average of the 7 funds most like it (the cheapest of 8). It has $109.2M in assets, the 8th largest of that group; it paid 0.24% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +12.3% with distributions reinvested (S&P 500: +11.5%), 3rd of those 8 funds; over three years it returned +24.6% a year.
The short version
Fidelity Disruptors ETF (FDIF) is a fund of funds. It owns five other Fidelity ETFs, each focused on a 'disruptive' theme: technology, communications, automation, medicine and finance. It does not track an index. Fidelity decides how much goes into each fund, so FDIF is an actively managed bet on innovative companies. It costs 0.50% a year, and its swings have been large, including a 33.37% loss in 2022.
Price history
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FDIF +12.3% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| FDIF official prospectus, to Sep 29, 2026 | — | +13.73% | — | +6.06% | — | +15.58% |
| MS159 index, same period | — | +22.71% | — | +11.56% | — | +18.80% |
| FDIF price data to Oct 27, 2026 | +14.7% | +12.3% | +24.6% | — | — | +16.4% |
- Over the year to Oct 27, 2026, FDIF returned +12.3%, 3rd of 8 among similar funds.
- Its worst full calendar year was 2025 (+13.8%); its best was 2024 (+19.7%).
- The deepest fall in its price history was 22.6% (Feb 18, 2025 to Apr 8, 2025), recovered by Jul 2, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +14.7% | — |
| 2025 | +13.8% | +13.73% |
| 2024 | +19.7% | +19.55% |
| 2023 | — | +28.58% |
| 2022 | — | -33.37% |
| 2021 | — | +15.20% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.0700 | |
| 2025 | $0.1300 | +18.2% |
| 2024 | $0.1100 |
What's inside
As of Aug 31, 2026, the fund held 5 securities; the ten largest made up 99.9% of assets.
| Fund held | Weight | |
|---|---|---|
| Fidelity Disruptive Technology ETF | 23.68% | |
| Fidelity Disruptive Communications ETF | 20.05% | |
| Fidelity Disruptive Automation ETF | 19.96% | |
| Fidelity Disruptive Medicine ETF | 19.82% | |
| Fidelity Disruptive Finance ETF | 16.39% |
By country
United States 99.9%By asset type
Stocks 99.9%What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $4.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +3.43%, -4.03%, +7.16%.
How it works
FDIF does not follow an index. Its goal, according to the prospectus, is long-term growth of capital. It normally invests in a combination of five Fidelity funds, and Fidelity, as the fund's adviser, decides how to split the money among them. As of August 31, 2026, the mix was Fidelity Disruptive Technology ETF 23.7%, Disruptive Communications ETF 20.1%, Disruptive Automation ETF 20.0%, Disruptive Medicine ETF 19.8% and Disruptive Finance ETF 16.4%, with 0.1% in cash.
Each underlying fund normally puts at least 80% of its assets into companies that, in Fidelity's opinion, have new ways of doing business that could displace established firms. The prospectus gives examples for each theme. Automation covers robotics, AI and electric vehicles. Communications covers social media, streaming and 5G. Finance covers digital payments and blockchain-based services. Medicine covers robotic surgery, gene therapy and genomics. Technology covers cloud software, cybersecurity and next-generation hardware. The individual stocks are picked inside those funds. They can include foreign companies, and one underlying fund invests a meaningful share of its assets in Asia.
Owning funds instead of stocks has practical effects. FDIF carries all the risks of its five underlying funds, plus the trading risks that come with any ETF. The prospectus lists no separate management fee for FDIF itself and a portfolio turnover of 0%, meaning it rarely traded its fund holdings. It uses no leverage, options or other derivatives.
What it really costs
- FDIF charges 0.5% a year, versus an average of 0.86% for the similar funds below (1st of 8, cheapest first).
- Of that, 0% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $51 in the first year and $628 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| FDIF | $51 | $160 | $280 | $628 |
Structure and tax notes
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
In a retirement portfolio
It is a concentrated, actively allocated bet on innovation themes that has moved more than the broad market, including a 33.37% loss in 2022.
FDIF could add growth-oriented exposure to innovation themes alongside a broader core holding. Expect big swings. The prospectus shows a 33.37% loss in 2022 and a worst quarter of -22.68% in the three months to June 30, 2022. The fund has no record for the 2008 or 2020 crashes. Later, it fell 22.6% from February 18 to April 8, 2025, and recovered by July 2, 2025, about 2.8 months later. Someone drawing on savings during a drop like that could lock in losses. Income is minimal: the yield was 0.24% as of October 27, 2026, paid quarterly. The expense ratio is 0.50%. In the SEC's standard example, that comes to $628 over 10 years on a $10,000 investment. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Long-term investors who want one fund covering five Fidelity innovation themes (technology, communications, automation, medicine and finance), with Fidelity setting the mix.
- People holding a small growth slice within a broader portfolio who can live with swings like the 33.37% loss in 2022.
- Investors who don't need income from this holding, since the yield was 0.24% as of October 27, 2026.
Look elsewhere if
- Retirees who need stability: FDIF's one-year beta was 1.41, and it dropped 22.6% between February and April 2025.
- Investors who want a low-cost index core: FDIF is actively allocated, costs 0.50%, and trailed its prospectus comparison index over one and five years.
- Those who prefer large funds: FDIF had about $109 million in net assets as of August 31, 2026, plus net outflows over three months.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| FDIF this fund | 0.5% | $109.2M | +12.3% | +24.6% |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
What does FDIF invest in?
FDIF invests in five other Fidelity ETFs instead of buying stocks directly. As of August 31, 2026, it held Fidelity Disruptive Technology ETF (23.7%), Disruptive Communications ETF (20.1%), Disruptive Automation ETF (20.0%), Disruptive Medicine ETF (19.8%) and Disruptive Finance ETF (16.4%). Each of those funds normally puts at least 80% of its assets into companies Fidelity believes could disrupt established businesses, in areas such as AI, robotics, streaming, digital payments, gene therapy and cybersecurity.
Is FDIF the same as buying the five Fidelity disruptive ETFs separately?
Not exactly. FDIF holds those same five funds, but Fidelity chooses the weights and can change them as part of an active asset allocation strategy. As of August 31, 2026, technology was the largest slice at 23.7% and finance the smallest at 16.4%. Buying the funds separately would let an investor set and rebalance their own weights. FDIF does that work in one ticker for a 0.50% expense ratio. The prospectus warns that Fidelity's allocation choices could cause the fund to lag.
How has FDIF performed?
Results have been strong in some years and painful in others. As of September 29, 2026, the prospectus shows average annual returns of 13.73% over one year, 6.06% over five years and 15.58% since inception. Its comparison index returned 22.71%, 11.56% and 18.8% over the same periods. Calendar-year returns were 15.2% in 2021, -33.37% in 2022, 28.58% in 2023, 19.55% in 2024 and 13.73% in 2025.
What is the FDIF expense ratio?
FDIF's expense ratio is 0.50% a year, according to its prospectus filed September 24, 2026. The prospectus lists no separate management fee for the fund itself. In the SEC's standard example, which assumes $10,000 invested, a 5% annual return and cashing out at the end of each period, total costs would be about $51 after one year, $160 after three years, $280 after five years and $628 after ten years.
Does FDIF pay dividends?
Yes, but very little. FDIF pays distributions quarterly. Over the 12 months to October 27, 2026, it paid about $0.10 per share, a yield of 0.24%. That fits its focus: it owns funds that hold growth-oriented companies, which tend to reinvest their profits instead of paying them out. Investors who want regular income from a holding would get little of it here. The fund's stated goal is long-term growth of capital, not income.