IQ

FDCF Fidelity Disruptive Communications ETF

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$49.57
−1.0% · 1 day, price
IQ’s readingComputed nightly from ETFIQ data. Not written live.

Over the year to Oct 28, 2026, FDCF lost 0.3%.

What drove FDCF’s returns?What does FDCF hold that the S&P 500 does not?What do FDCF’s net flows of +$65.7m over the 3 years to May 31, 2026 mean?
Holds 38 stocks in broad innovation and megatrends, 56% of its weight in S&P 500 companiesFidelity ↗Expense ratio 0.50%Fund assets $103m on Sep 30, 2026First traded Jun 12, 2023Benchmark Its own holdings, as of May 31, 2026; its prospectus names no index it tracksSEC filings ↗Every Fidelity fund ETFIQ coversDividend history

Promise check: Not measuredIts theme exposure is measured once ETFIQ defines its theme company by company.

Compare with…Trading costsPut to the committeeaskIQ about FDCFAdd to portfolioOverlapFlowsAlerts

FDCF risk and return scorecard

vs its own holdings

Not measured: its benchmark is its own holdings, which has no weekly price series.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

Money in and out

Net fund flows · May 31, 2026
12 months to May 31, 2026
+$19.2m
3 years to May 31, 2026
+$65.7m
Since Jun 2023
+$65.7m
askIQ: what do these flows mean? ↗

What you earned

FDCF −3.3%: total return over one month to Oct 28, 2026.
FDCF−3.3%
FDCF +3.6%: total return over three months to Oct 28, 2026.
FDCF+3.6%
FDCF +3.6%: total return over six months to Oct 28, 2026.
FDCF+3.6%
FDCF +3.2%: total return over the year to Oct 28, 2026.
FDCF+3.2%
FDCF −0.3%: total return over one year to Oct 28, 2026.
FDCF−0.3%
FDCF +109.6%: total return over three years to Oct 28, 2026.
FDCF+109.6%
FDCF +96.4%: total return since launch to Oct 28, 2026.
FDCF+96.4%
askIQ: what drove FDCF’s returns? ↗

What did you actually buy?

Broad innovation and megatrends · holdings as of Aug 31, 2026
56.0%
Already in the S&P 500
Report
79.8%
Active share vs the S&P 500
Report
56.1%
Top ten holdings
Report
−0.3%
Total return, 1 year
Report
0.1%
12-month yield, capital gains included, on its starting price
Report
$0.034
Last payment (paid quarterly), ex-date Jun 18, 2026
Report
Share already in the S&P 500
56.0% of the fund by weight, holdings as of Aug 31, 2026.
Ten largest holdings
TAIWAN SEMICONDUCTOR MFG CO LTD10.8%
ALPHABET INC8.8%
META PLATFORMS INC6.2%
NVIDIA CORP5.6%
ARISTA NETWORKS INC5.6%
AMAZON.COM INC5.4%
WARNER BROS DISCOVERY INC3.9%
ROKU INC3.9%
QUEBECOR INC3.1%
SEA LTD2.7%
askIQ: what does FDCF hold that the S&P 500 does not? ↗

More on FDCF

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Price, 1 year

$49.57−1.0%1 day, priceClose, Oct 28, 2026

Price only. Total return over the same days, distributions reinvested, was −0.3%. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Oct 28, 2026. Updated every trading night. Report a data error

FDCF returns by window: total return, cash paid and price change
WindowTotal returnS&P 500 (SPY)
1M Sep 28 – Oct 28, 2026−3.3%+0.9%
3M Jul 29 – Oct 28, 2026+3.6%+6.1%
6M Apr 29 – Oct 28, 2026+3.6%+9.1%
YTD Dec 31, 2025 – Oct 28, 2026+3.2%+14.1%
1Y Oct 28, 2025 – Oct 28, 2026−0.3%+13.6%
3Y Oct 27, 2023 – Oct 28, 2026+109.6%+95.0%
Since launch Jun 12, 2023 – Oct 28, 2026+96.4%+85.9%
Since launch, annualised Jun 12, 2023 – Oct 28, 2026+22.1%–

Total returns, distributions reinvested.

Source: Tiingo end-of-day prices, with distributions reinvested.

Where every fund in this set sits

How much of its weight does it not share with the S&P 500?

Active share against the S&P 500
USNZ 23.1%IQSZ 49.1%TNXT 51.6%IETC 59.8%XIGV 60.7%CRTC 61.8%AIX 64.0%LQAI 64.9%ALAI 65.2%IVES 66.3%ILDR 67.0%PEXL 67.1%JHAI 68.1%AGIX 68.8%AIEQ 69.0%AOTG 69.1%XT 69.2%FAI 70.1%AIQ 70.2%CHAT 70.9%WTAI 71.5%XAIX 72.0%THMZ 73.5%AIFD 74.4%FRWD 74.4%CARZ 74.5%WUGI 75.2%FDTX 75.5%BAI 75.9%AIUP 76.1%TEKY 77.7%PNQI 78.9%FMET 79.1%IGPT 79.2%ARKW 79.9%AINT 80.3%ARKQ 80.3%SHOC 80.5%SMH 80.7%SOXQ 80.8%FTXL 80.9%GGME 81.5%KNCT 81.7%PBOT 82.1%SOXX 82.3%CBOT 82.4%OGIG 82.9%UFOX 83.1%ARTY 83.2%ABOT 83.7%ARKX 83.7%MILN 83.9%SUPP 84.2%CHPX 84.3%RACK 84.3%CHPS 84.8%AGIQ 85.2%FDN 85.5%AIPO 85.8%CLOD 86.1%XDAT 86.2%BUYZ 86.3%SMHX 87.2%FOWF 88.4%NRSH 88.6%PCLN 89.5%DTCR 90.8%CIBR 90.9%FCLD 91.6%TMAT 91.6%RBLD 91.9%PSI 92.2%IGV 92.4%TCAI 92.7%NEWZ 94.6%TSES 94.7%MADE 94.8%PBPH 95.0%GDOC 95.4%BMED 95.6%EPAI 95.6%IFRA 95.7%PPA 96.4%WR 96.6%POWR 96.9%VOLT 96.9%YUNG 97.1%FPWR 97.2%, and 2 more at this point: IVEP 97.2%, PAVE 97.2%MISL 97.4%HVAC 97.5%, and 1 more at this point: RIFR 97.5%AV 97.6%, and 1 more at this point: TSSD 97.6%IPAY 97.7%, and 4 more at this point: ITA 97.7%, NATO 97.7%, KYC 97.8%, ZAP 97.8%DUTY 98.1%WNDR 98.1%DRES 98.2%, and 2 more at this point: TPZ 98.3%, SRVR 98.5%NFRX 98.2%IHI 98.7%DOCK 98.8%BBH 99.0%PHO 99.4%LGHT 99.5%FDCF 79.8%FDCF 79.8%23.1%99.5%
23.1% to 99.5% across 112

That is the share of the 112 thematic ETFs with at least half their money in S&P 500 companies sitting at or below FDCF.

Weight not shared with the S&P 500 only; it says nothing about returns, fees or whether the theme pays off. Where the fund sits in this set, not a rating. Do not average it with another category's score.

30.8
IQ Themes ScoreETFIQ S&P 500 Difference Score78th of 112 · Oct 28, 2026
0.4 · lowest of 112 thematic ETFs with at least half their money in S&P 500 companies99.6 · highest

How different its holdings are from the S&P 500, ranked against 112 thematic ETFs with at least half their money in S&P 500 companies. 100 is best. How it is computed

FDCF shares 19 of its 38 holdings with the S&P 500. Counting each at the smaller of its two weights, the two overlap by 20.2%.

active share against the S&P 50079.8% · 31st pct
All 112 ranked by this score →

Money in and out

Monthly data · as of May 31, 2026

FDCF: in the month to May 31, 2026, nothing net moved, by its SEC filing.

12 months
+$19.2m
27.9% of $69.1m on May 31, 2025
Jun 1, 2025 to May 31, 2026
monthly, from SEC filings
3 years
+$65.7m
Jun 1, 2023 to May 31, 2026
monthly, from SEC filings
Since Jun 2023
+$65.7m
Jun 1, 2023 to May 31, 2026
monthly, from SEC filings

Computed by ETFIQ from the monthly sales and redemptions FDCF files with the SEC on Form N-PORT.

How this is computed

ETFIQ reads no daily data for this fund, so its flows are monthly, and the latest month filed is May 2026. Every day and month ETFIQ holds for FDCF, back to Jun 2023, is in its flows file. Flows across every fund · How these flows are computed · Compare FDCF with other funds in the flows tool

Month by month, money in and money outJun 2023 to May 2026

FDCF, money in and money out each month from Jun 2023 to May 2026: two bars a month, money in above the line and money out below. Every bar is from FDCF’s SEC filings (N-PORT item B.6). Of the 36 months listed, money came in on net in 10 and went out in 3.

Every bar is from FDCF’s SEC filings (N-PORT item B.6). Of the 36 months listed, money came in on net in 10 and went out in 3.

MonthInOutNet
May 2026 SEC Form N-PORT$0$0$0
Apr 2026 SEC Form N-PORT$0−$4.4m−$4.4m
Mar 2026 SEC Form N-PORT$0$0$0
Feb 2026 SEC Form N-PORT$0$0$0
Jan 2026 SEC Form N-PORT$0$0$0
Dec 2025 SEC Form N-PORT$0$0$0
Nov 2025 SEC Form N-PORT+$4.7m$0+$4.7m
Oct 2025 SEC Form N-PORT$0$0$0
Sep 2025 SEC Form N-PORT+$9.9m$0+$9.9m
Aug 2025 SEC Form N-PORT+$4.6m$0+$4.6m
Jul 2025 SEC Form N-PORT+$4.4m$0+$4.4m
Jun 2025 SEC Form N-PORT$0$0$0
May 2025 SEC Form N-PORT$0$0$0
Apr 2025 SEC Form N-PORT$0$0$0
Mar 2025 SEC Form N-PORT$0$0$0
Feb 2025 SEC Form N-PORT+$4.2m$0+$4.2m
Jan 2025 SEC Form N-PORT+$4.0m$0+$4.0m
Dec 2024 SEC Form N-PORT$0$0$0
Nov 2024 SEC Form N-PORT+$3.8m$0+$3.8m
Oct 2024 SEC Form N-PORT$0$0$0
Sep 2024 SEC Form N-PORT$0$0$0
Aug 2024 SEC Form N-PORT$0$0$0
Jul 2024 SEC Form N-PORT$0−$3.5m−$3.5m
Jun 2024 SEC Form N-PORT+$3.4m$0+$3.4m
May 2024 SEC Form N-PORT$0$0$0
Apr 2024 SEC Form N-PORT$0$0$0
Mar 2024 SEC Form N-PORT$0$0$0
Feb 2024 SEC Form N-PORT$0$0$0
Jan 2024 SEC Form N-PORT$0$0$0
Dec 2023 SEC Form N-PORT$0$0$0
Nov 2023 SEC Form N-PORT$0−$2.7m−$2.7m
Oct 2023 SEC Form N-PORT$0$0$0
Sep 2023 SEC Form N-PORT$0$0$0
Aug 2023 SEC Form N-PORT$0$0$0
Jul 2023 SEC Form N-PORT+$2.7m−$2.7m+$30k
Jun 2023 SEC Form N-PORT+$37.8m−$500k+$37.3m

Most recent first.

How this is computed

N-PORT months: money in is sales plus reinvestments; money out is redemptions.

N-PORT months are the filed sales plus reinvestments less redemptions. Later months add up the daily data; the Source column names any missing day.

Source: ETFIQ, from the fund’s SEC N-PORT filings. Data as of May 31, 2026. Updated when the fund files its next report.

FDCF key stats

52-week high, daily closes to Oct 28, 2026 (ETFIQ)$52.78 on Oct 6, 2026
52-week low, daily closes to Oct 28, 2026 (ETFIQ)$41.23 on Mar 30, 2026
Close on Oct 28, 2026, within that range (ETFIQ)$49.57, 72% of the way from the low to the high
Holdings38
Top ten holdings weight56.1%
Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

Trading

as of Aug 12, 2026
Trading · FDCFas of Aug 12, 2026
·
Not scored1 of 6 measured · Aug 12, 2026
0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant
Cost for your order · one way, half its 30-day median spread
One dealer
How to tradeSpread not read.
Full trading page: components, premium history, dealers →

FDCF top ten by weight, 53.9% of the fund, of its 37 equity positions, from the holdings filed for Aug 31, 2026. Source: the fund’s SEC filing.

TAIWAN SEMICONDUCTOR MFG CO LTD not filed 10.18%
ALPHABET INC GOOGL 7.89%
ARISTA NETWORKS INC ANET 6.84%
NVIDIA CORP NVDA 5.85%
META PLATFORMS INC META 5.59%
AMAZON.COM INC AMZN 5.20%
SEA LTD not filed 3.43%
TWILIO INC TWLO 3.23%
SPOTIFY TECHNOLOGY SA not filed 2.87%
ROBLOX CORP RBLX 2.85%
Fund filings on SEC EDGAR ↗See all 37 holdings →Check overlap with another fund →

Source: Holdings filing (SEC Form N-PORT). Data as of Aug 31, 2026.

About FDCF

Theme (ETFIQ, editorial)Broad innovation and megatrends
First tradedJun 12, 2023
History (N-CSRS, Jan 22, 2024; N-CSRS, Jan 22, 2024)Converted from a mutual fund on Jun 9, 2023; the fund started on Apr 16, 2020
Already in the S&P 500, by weight (ETFIQ)56.0%
Outside the S&P 500, by weight (ETFIQ)44%
Active share vs the S&P 500 (ETFIQ)79.8%
Already in the Nasdaq-100, by weight (ETFIQ)45.6%
Active share vs the Nasdaq-100 (ETFIQ)74.6%
Top ten holdings weight56.1%
Holdings38
Holdings as of (SEC N-PORT)Aug 31, 2026
Top holdingsTAIWAN SEMICONDUCTOR MFG CO LTD 10.8%, ALPHABET INC 8.8%, META PLATFORMS INC 6.2%, NVIDIA CORP 5.6%, ARISTA NETWORKS INC 5.6%, AMAZON.COM INC 5.4%, WARNER BROS DISCOVERY INC 3.9%, ROKU INC 3.9%, QUEBECOR INC 3.1%, SEA LTD 2.7%
Net assets (the issuer’s own number for this ETF, month end, as of Sep 30, 2026)$103mReport
Benchmark (ETFIQ, from its filings)Its own holdings, as of May 31, 2026; its prospectus names no index it tracks
Below its all-time high (ETFIQ)−6.1%
Expense ratio (485BPOS XBRL, Sep 24, 2026)0.50%Report
Fee for the part that differs from the S&P 500, active expense ratio (ETFIQ)0.63%
Closest funds by holdings overlapPNQI 35%, FDTX 33%, ALAI 32%, AIX 32%, OGIG 30%
Below its all-time high6.1%, high on Oct 6, 2026
How we measure
The top ten holdings are 56% of the fund across 38 positions, as filed for Aug 31, 2026. Over the year to Oct 28, 2026 the fund returned −0.3% with distributions reinvested. It sits 6.1% below its all-time high of Oct 6, 2026.
Holdings from the fund’s latest public SEC N-PORT filing; overlap and active share computed by ETFIQ against the IVV and QQQM books; returns from Tiingo end-of-day prices with distributions reinvested. Method
IQ Investment Committee on FDCF

12 seats on FDCF, as of Oct 28, 2026: 2 Mixed, 5 Challenges, 5 Not enough data.

In the tradition ofJohn BogleBogle-style Low CostChallenges
In the tradition ofBenjamin GrahamGraham-style Margin of SafetyNot enough data
In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityNot enough data
In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data
In the tradition ofJohn TempletonTempleton-style Global ContrarianNot enough data
In the tradition ofRay DalioDalio-style All-WeatherChallenges
In the tradition ofHoward MarksMarks-style Cycles & RiskChallenges
In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityChallenges
In the tradition ofDavid SwensenSwensen-style DiversificationChallenges
In the tradition ofCathie WoodWood-style Disruptive InnovationNot enough data
In the tradition ofJesse LivermoreLivermore-style Trend FollowingMixed
Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatMixed
Put FDCF to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about FDCF

How much of FDCF is in S&P 500 companies?
By its holdings filed for Aug 31, 2026, 56% of FDCF by weight is stocks the S&P 500 already holds. Its active share against the index is 80%, so that share is the part doing something different.
What does FDCF hold?
38 positions as filed for Aug 31, 2026, with the top ten at 56% of the fund. The largest are TAIWAN SEMICONDUCTOR MFG CO LTD at 10.8%, ALPHABET INC at 8.8%, META PLATFORMS INC at 6.2%.
Has FDCF beaten the S&P 500?
Over the year to Oct 28, 2026 FDCF returned −0.3% with distributions reinvested, against +13.6% for the S&P 500, so it finished behind the index by 13.9 points.
What does FDCF cost?
The prospectus expense ratio is 0.50% a year. Because 80% of the fund differs from the S&P 500, the fee on that differing part works out at 0.63%.
Sources and dates
Prices, FDCF and S&P 500 (SPY)Tiingo end-of-day · Oct 28, 2026
Fee, 0.50%Prospectus filing with the expense ratio (SEC) ↗
Net assets, $103mThe issuer’s own number for this ETF, month end · Sep 30, 2026
HoldingsHoldings filing (SEC Form N-PORT) · Aug 31, 2026 ↗
IssuerFidelity website ↗
All fund filingsFund filings on SEC EDGAR ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →
Cite this pageCitation, APA and Markdown

ETFIQ, FDCF, thematic ETFs, data as of Oct 28, 2026. https://etfiq.com/funds/fdcf

The difference bar for FDCF, redrawn every trading night.

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

Active share
How differently the money is placed, counting weights: one minus the sum of the smaller weight of each security across the fund and the index. 100% means nothing in common; 0% means the index itself. Two funds can hold the same names and still have a high active share if they weight them very differently.
Weight overlap
The share of money two portfolios hold in the same securities at the same weight.
Already in the index
The fund’s weight in securities the S&P 500 holds at all. A fund can be made entirely of index names and still have high active share, because it holds them at different weights.
Top ten
The weight of the ten largest holdings. Above 50% the fund is a bet on a handful of companies, whatever the theme.
Full definitions: thematic ETFs vocabulary page. →
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FDCF: 56% of FDCF's weight is in S&P 500 companies and 44% is outside the index. Holdings as of May 31, 2026.
<figure style="margin:0;max-width:640px">
<a href="https://etfiq.com/funds/fdcf"><img src="https://etfiq.com/assistant/api/embed/themes/fdcf.svg" alt="FDCF: 56% of FDCF&#x27;s weight is in S&amp;P 500 companies and 44% is outside the index. Holdings as of May 31, 2026." width="640" style="max-width:100%;height:auto"></a>
<figcaption style="font:13px/1.5 sans-serif">FDCF: 56% of FDCF&#x27;s weight is in S&amp;P 500 companies and 44% is outside the index. Holdings as of May 31, 2026. Data: <a href="https://etfiq.com/funds/fdcf">ETFIQ</a></figcaption>
</figure>

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