How Fidelity's Thematic ETFs Unlock Tech Stocks

ETF Investing Content Hub How Fidelity’s Thematic ETFs Unlock Tech Stocks Nick Peters-Golden August 28, 2026 Tech stocks comprise a huge part of the S&P 500. With many investors already heavily exposed in tech, what’s a smart way to add further exposure to innovation? Thematic ETFs like Fidelity Investments’ Fidelity Cloud Computing ETF (FCLD) , can provide a path. Key Takeaways: Thematic ETFs like FCLD offer flexibility, able to be combined to craft a bespoke allocation. FCLD has returned 36.4% over the last twelve months according to Fidelity Investments data. The fund charges a relatively competitive 39 bps fee to do so and has outperformed its benchmark. Why look to thematic ETFs? Where many investors already have exposure to sector ETFs, thematics can cross sector boundaries based on, well, a theme. FCLD provides that strong example. The strategy charges a 39 basis point (bps) fee to track the Fidelity Cloud Computing Index. That index takes a market cap-weighted approach to stocks that either provide or enable cloud computing services. FCLD includes both developed and emerging markets companies making at least 50% of revenue on cloud computing. Specifically, it looks for firms active in cloud infrastructure, platforms, and software. That has helped FCLD return 36.4% over the last one year on a NAV return basis, per Fidelity Investments data. That notably outpaced the ETF’s benchmark, the MCWI ACWI NR Index, which came in at 23.7% in that time. It includes numerous tech stocks that can appeal outside of those megacap names. Thanks to the ETF wrapper’s flexibility and tradability, investors can use thematic ETFs to craft a bespoke allocation. They can, for example, combine FCLD with the Fidelity Electric Vehicles and Future Transportation ETF (FDRV) to get two different ETFs that both interact with AI in different ways. FDRV may see investments benefit from AI advancements in vehicles. FCLD, meanwhile, does include SaaS companies that have not all benefited from AI, but AI lifts the category overall. Together, thematic ETFs like those offer tools that can help portfolios craft the allocation they want and get tech equities without adding too much megacap exposure. For more news, information, and strategy, visit the ETF Investing Content Hub . Fidelity Investments® is an independent company unaffiliated with VettaFi LLC (“VettaFi”). These articles do not form any kind of legal partnership, agency affiliation, or similar relationship between VettaFi and Fidelity Investments, nor is such a relationship created or implied by the articles herein. VettaFi LLC is the author and owner of these articles. 1279363.1.0 RELATED TOPICS ETF Investing Content Hub FCLD FDRV Fidelity Fidelity Investments Earn free CE credits and discover new strategies