Cboe Global Markets Lists for Trading the First Proxy Model, Semi-Transparent ETFs with Fidelity

CHICAGO, June 4, 2020 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), one of the world's largest exchange holding companies, today announced it has listed for trading three actively managed, semi-transparent exchange traded funds (ETFs) from Fidelity Investments: the Fidelity Blue Chip Value ETF (ticker: FBCV), Fidelity Blue Chip Growth ETF (ticker: FBCG) and Fidelity New Millennium ETF (ticker: FMIL). With the launch of these ETFs, Cboe expands the suite of actively managed, semi-transparent ETFs listed on its exchange.
Cboe Global Markets Lists for Trading the First Proxy Model, Semi-Transparent ETFs with Fidelity
The Fidelity funds are the first semi-transparent ETFs to utilize a proxy portfolio model, based on Fidelity's proprietary methodology. A proxy portfolio, or "tracking basket," is optimized to fund performance and consists of actual portfolio holdings, representative ETFs that hold securities similar to those held by the ETFs, and cash. Using a tracking basket, Fidelity's ETFs are designed toA shield a part of their portfolios, while still providing enough information to the market to effectively price and trade fund shares throughout the day. Laura Morrison, Senior Vice President and Global Head of Listings at Cboe Global Markets, said: "We are pleased to collaborate with Fidelity Investments to launch the first proxy model semi-transparent ETFs. This remains a new and exciting opportunity for many asset managers, who are increasingly turning to Cboe's proven expertise and unparalleled listings services a?? from product development and launch, to marketing and distribution a?? to bring their semi-transparent products to market." A Greg Friedman, Head of ETF Management and Strategy at Fidelity, said: "We are excited to partner with Cboe Global Markets for our active equity ETF debut and to drive forward the next wave of ETF innovation. Fidelity's proprietary methodology is an industry leading approach, designed to fit seamlessly within the existing ETF market and provide investors with greater choice and ease in accessing active investment strategies."
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