Fidelity All-in-One Balanced ETF (FBAL.NE)

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This fund aims to achieve long-term capital appreciation and overall returns by employing a disciplined strategic asset allocation strategy. Its approach targets a portfolio of roughly 60% equities and 40% fixed income instruments, sourced globally through investments in other Fidelity exchange-traded funds (ETFs). The equity component will primarily comprise ETFs focused on North American and other developed stock markets. Meanwhile, the fixed income allocation will include ETFs offering exposure to Canadian and international investment-grade bonds, higher-yielding debt, and securities with variable interest rates. It's important to note that each underlying Fidelity ETF has the flexibility to invest up to 10% of its net assets into additional Fidelity funds, referred to as "third-tier funds." The selection and management of these third-tier funds and other holdings are handled by the underlying ETFs themselves, with assets within any third-tier fund being managed independently at that fund's level. FBAL's portfolio is rebalanced annually, but should its asset allocation diverge by more than 5% from the target mix between scheduled rebalances, an interim rebalance will be initiated.