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Fidelity® Blue Chip Growth ETF FBCG

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Morningstar’s Analysis

Will FBCG outperform in future?

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Fidelity Blue Chip Growth ETF’s High-Growth Exposure Has Hurt in 2022

Analyst Note

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Fidelity Blue Chip Growth ETF’s exposure to companies with paltry current earnings, relatively high price multiples, and rapid growth expectations has inflicted heavy losses during the global equity market selloff that began near 2022’s start. For the year to date through May 7, 2022, the fund slid 27.9%, a bottom-quartile result within the large-growth Morningstar Category that was roughly 6 percentage points worse than the Russell 1000 Growth Index’s decline. That underperformance, while disappointing, is mostly in line with what investors should expect from the strategy, given its style, typical exposure to companies with high volatility, and an unfavorable macroeconomic backdrop.

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