FCOR offers access to the same active strategy and management team of an existing Fidelity mutual fund (the Fidelity Corporate Bond Fund, FCBFX) but in a transparent and liquid ETF wrapper. The fund primarily focuses on corporate bonds but has the discretion to reach into the broader credit market. While using the Barclays US Credit Index (an investment-grade benchmark) to guide its duration target, FCOR has significant and evolving exposure to high-yield securities. Furthermore, it can use derivatives to boost its performance.
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