FFEM - Fidelity Covington Trust - Fidelity Fundamental Emerging Markets ETF
FFEM seeks to achieve long-term capital growth by fundamentally selecting stocks from emerging markets. The fund includes countries that have an emerging stock market, as defined by MSCI, low- to middle-income economies, as classified by the World Bank, as well as countries with similar characteristics. The adviser considers an issuers domicile, incorporation, primary listing, and location of at least 50% of its assets to determine if it is economically tied to emerging markets.
As of Sep 29, 2026: spot at $42.26, ATM IV 21.7%, max pain $42.00, net GEX $860.
- Sector
- Financial Services
- Industry
- Asset Management
- Market Cap
- $62.9M
- Beta
- 1.01
- 52-Week Range
- 30.76-45.62
- Dividend Yield
- $0.55
- IPO Date
- Nov 21, 2024
- Exchange
- CBOE
What FFEM Looks Like to Options Traders Today
IV rank of 8.8% is subdued relative to the 1-year history, conditions that typically favor premium-buying or long-volatility structures (debit spreads, calendar spreads, long straddles); positive net gamma exposure ($860) means dealers hedge against trend, damping realized volatility and biasing price toward heavy-OI strikes; the 25-delta skew (0.025) prices calls richer than puts, often reflecting upside speculation or squeeze risk.
What This Page Covers
The FFEM overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks. Microstructure data is available on short interest, short volume, fail-to-deliver, and market structure.
Frequently asked FFEM overview questions
- What is FFEM?
- FFEM is the ticker symbol for Fidelity Covington Trust - Fidelity Fundamental Emerging Markets ETF, an listed exchange-traded fund. FFEM seeks to achieve long-term capital growth by fundamentally selecting stocks from emerging markets. The fund includes countries that have an emerging stock market, as defined by MSCI, low- to middle-income economies, as classified by the World Bank, as well as countries with similar characteristics. Listed on CBOE. FFEM is the ETF ticker shown on this page; ETF traders use the fund for diversified exposure to its underlying basket, for sector and factor rotation, and for hedging or replication strategies via the listed options chain.
- What does the FFEM options snapshot look like today?
- As of Sep 29, 2026, the FFEM options snapshot shows spot at $42.26, ATM IV 21.7%, IV rank 8.8%, max pain $42.00, net GEX $860, expected move 6.22%. The full options chain, Greeks by strike and expiration, per-strike open-interest distribution, dealer gamma and delta exposure, and the volatility skew surface are linked from this overview page. Each per-metric route refreshes once per trading session and reflects the most recent close-of-business listed-options state.
- What are FFEM's key statistics?
- Fidelity Covington Trust - Fidelity Fundamental Emerging Markets ETF (FFEM) carries a market capitalization of $62.9M, 52-week range of 30.76-45.62. Full holdings disclosure, expense ratio, and tracking-error history live on the per-ticker fundamentals page or the sponsor's site; daily NAV and premium/discount-to-NAV are accessible from the same view. These structural inputs frame how the ETF options market prices implied volatility relative to its constituents.
- What sector or industry does FFEM belong to?
- Fidelity Covington Trust - Fidelity Fundamental Emerging Markets ETF operates in the Financial Services sector, in the Asset Management industry. Sector classification affects how the ticker correlates with sector ETFs, how it reacts to macro factors like rate moves and commodity prices, and how its options pricing compares to sector peers. Compare FFEM's implied volatility and skew against sector benchmarks to gauge whether the options market is pricing single-name or systemic risk relative to the broader peer group.
- How current is the FFEM data on this page?
- The options snapshot above is dated Sep 29, 2026 and refreshes once per session, with all per-strike Greeks and exposure aggregates recomputed at the daily close. Fund-level fields (sponsor, expense ratio, holdings concentration where available) refresh from the vendor feed nightly. ETF-specific filings (N-CSR, N-PX, N-CEN) update on the SEC EDGAR cadence. FINRA microstructure data refreshes on the source's cadence; for ETFs the off-exchange volume signal is dominated by authorized-participant creation and redemption rather than directional flow.