Fund Description: Fidelity Dividend ETF for Rising Rates is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Fidelity Covington Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Fidelity Dividend ETF for Rising Rates seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the Fidelity Dividend Index for Rising Rates. INDEX DESCRIPTION: The Fidelity Dividend Index for Rising Rates is designed to reflect the performance of stocks of large and mid-capitalization dividend-paying companies that are expected to continue to pay and grow their dividends and have a positive correlation of returns to increasing 10-year U.S. Treasury yields. FUND STRATEGY: The Fund normally invests at least 80% of assets in securities included in the Index and in depository receipts representing securities included in the Index. FUND MANAGEMENT: FMR Co., Inc. (the Adviser) serves as the Fund's manager. Geode Capital Management, LLC serves as a sub-adviser for the Fund.